EQT (EQT) 10-Q30 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares shares in Thousands	9 Months Ended
Cover - shares shares in Thousands	Sep. 30, 2024	Oct. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-03551
Entity Registrant Name	EQT CORPORATION
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-0464690
Entity Address, Street	625 Liberty Avenue
Entity Address, Suite	Suite 1700
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15222
City Area Code	412
Local Phone Number	553-5700
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	EQT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		596,684
Entity Central Index Key	0000033213
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

STATEMENTS OF CONDENSED CONSOLI

STATEMENTS OF CONDENSED CONSOLIDATED OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues:
Gain on derivatives	$ 66,816	$ 177,906	$ 234,660	$ 1,167,144
Total operating revenues	1,283,802	1,186,102	3,648,582	4,865,924
Operating expenses:
Transportation and processing	440,845	554,788	1,529,093	1,592,934
Production	93,842	62,858	273,042	163,963
Operating and maintenance	40,518	4,235	65,824	6,108
Exploration	282	447	2,576	2,602
Selling, general and administrative	88,470	56,942	228,730	168,999
Depreciation, depletion and amortization	589,299	446,886	1,542,031	1,230,255
Loss (gain) on sale/exchange of long-lived assets	10,117	1,511	(309,865)	17,814
Impairment and expiration of leases	12,095	6,419	58,963	22,290
Other operating expenses	290,174	36,209	354,337	69,265
Total operating expenses	1,565,642	1,170,295	3,744,731	3,274,230
Operating (loss) income	(281,840)	15,807	(96,149)	1,591,694
(Income) loss from investments	(34,242)	546	(36,674)	(5,310)
Other income	(3,960)	(132)	(23,596)	(869)
Loss (gain) on debt extinguishment	365	1,089	5,651	(55)
Interest expense, net	158,299	60,427	268,390	146,856
(Loss) income before income taxes	(402,302)	(46,123)	(309,920)	1,451,072
Income tax (benefit) expense	(104,870)	(126,853)	(124,790)	217,975
Net (loss) income	(297,432)	80,730	(185,130)	1,233,097
Less: Net income (loss) attributable to noncontrolling interests	3,391	(525)	2,688	(80)
Net (loss) income attributable to EQT Corporation	$ (300,823)	$ 81,255	$ (187,818)	$ 1,233,177
(Loss) income per share of common stock attributable to EQT Corporation:
Weighted average common stock outstanding - Basic (in shares)	559,603	383,359	480,354	368,936
Net (loss) income attributable to EQT Corporation - Basic (in dollars per share)	$ (0.54)	$ 0.21	$ (0.39)	$ 3.34
Weighted average common stock outstanding - Diluted (in shares)	559,603	416,190	480,354	401,859
Net (loss) income attributable to EQT Corporation - Diluted (in dollars per share)	$ (0.54)	$ 0.20	$ (0.39)	$ 3.08
Sales of natural gas, NGLs and oil
Operating revenues:
Sales of natural gas, natural gas liquids and oil	$ 1,099,752	$ 1,001,883	$ 3,293,174	$ 3,680,566
Pipeline, net marketing services and other
Operating revenues:
Pipeline, net marketing services and other	$ 117,234	$ 6,313	$ 120,748	$ 18,214

STATEMENTS OF CONDENSED CONSO_2

STATEMENTS OF CONDENSED CONSOLIDATED COMPREHENSIVE (LOSS) INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (297,432)	$ 80,730	$ (185,130)	$ 1,233,097
Other comprehensive income, net of tax:
Other postretirement benefits liability adjustment, net of tax: $13, $15, $39 and $44	28	57	114	270
Comprehensive (loss) income	(297,404)	80,787	(185,016)	1,233,367
Less: Comprehensive income (loss) attributable to noncontrolling interests	3,391	(525)	2,688	(80)
Comprehensive (loss) income attributable to EQT Corporation	$ (300,795)	$ 81,312	$ (187,704)	$ 1,233,447

STATEMENTS OF CONDENSED CONSO_3

STATEMENTS OF CONDENSED CONSOLIDATED COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Other post-retirement benefits liability adjustment, tax expense	$ 13	$ 15	$ 39	$ 44

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 88,980	$ 80,977
Accounts receivable (less provision for doubtful accounts: $9,135 and $663)	577,599	823,695
Derivative instruments, at fair value	251,657	978,634
Income tax receivable	92,791	91,414
Prepaid expenses and other	71,265	38,255
Total current assets	1,082,292	2,012,975
Property, plant and equipment	44,884,752	33,817,169
Less: Accumulated depreciation and depletion	12,338,210	10,866,999
Net property, plant and equipment	32,546,542	22,950,170
Investment in the MVP Joint Venture	3,358,346	0
Net intangible assets	268,308	22,595
Goodwill	2,178,236	0
Other assets	511,865	299,358
Total assets	39,945,589	25,285,098
Current liabilities:
Current portion of debt	400,150	292,432
Accounts payable	1,042,393	1,272,522
Derivative instruments, at fair value	197,712	186,363
Accrued interest	189,965	80,520
Other current liabilities	283,730	205,003
Total current liabilities	2,113,950	2,036,840
Revolving credit facility borrowings	2,297,000	0
Term Loan Facility borrowings	497,970	1,244,265
Senior notes	10,598,428	4,176,180
Note payable to EQM Midstream Partners, LP	0	82,236
Deferred income taxes	2,746,292	1,904,821
Other liabilities and credits	1,203,631	1,059,939
Total liabilities	19,457,271	10,504,281
Equity:
Common stock, no par value, shares authorized: 1,280,000 and 640,000, shares issued: 596,268 and 419,896	18,076,243	12,093,986
Retained earnings	2,261,086	2,681,898
Accumulated other comprehensive loss	(2,570)	(2,684)
Total common shareholders' equity	20,334,759	14,773,200
Noncontrolling interest in consolidated subsidiaries	153,559	7,617
Total equity	20,488,318	14,780,817
Total liabilities and equity	$ 39,945,589	$ 25,285,098

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Provision for doubtful accounts	$ 9,135	$ 663
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares (in shares)	1,280,000,000	640,000,000
Common stock, shares issued (in shares)	596,268,000	419,896,000

STATEMENTS OF CONDENSED CONSO_4

STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net (loss) income	$ (185,130)	$ 1,233,097
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Deferred income tax (benefit) expense	(123,725)	227,701
Depreciation, depletion and amortization	1,542,031	1,230,255
Gain/loss on sale/exchange of long-lived assets and impairments	(250,902)	40,104
Income from investments	(36,674)	(5,310)
Loss (gain) on debt extinguishment	5,651	(55)
Share-based compensation expense	141,578	38,179
Distributions from equity method investments	11,187	18,073
Other	13,160	12,022
Gain on derivatives	(234,660)	(1,167,144)
Net cash settlements received on derivatives	1,037,321	625,051
Net premiums paid on derivatives	(41,970)	(231,343)
Changes in other assets and liabilities:
Accounts receivable	331,452	1,122,843
Accounts payable	(122,252)	(515,879)
Other current assets	(10,150)	91,946
Other items, net	(6,220)	(165,076)
Net cash provided by operating activities	2,070,697	2,554,464
Cash flows from investing activities:
Capital expenditures	(1,662,112)	(1,485,898)
Cash paid for acquisitions	(864,242)	(2,288,201)
Proceeds from sale/exchange of assets	451,906	4,831
Capital contributions to equity method investments	(87,804)	(5,000)
Other investing activities	(80)	159
Net cash used in investing activities	(2,162,332)	(3,774,109)
Cash flows from financing activities:
Proceeds from revolving credit facility borrowings	3,578,000	313,000
Repayment of revolving credit facility borrowings	(2,316,000)	(313,000)
Proceeds from issuance of debt	750,000	1,250,000
Proceeds from net settlement of capped call transactions	93,290	0
Debt issuance costs	(18,854)	(5,336)
Repayment and retirement of debt	(1,655,706)	(1,014,346)
(Premiums paid) discounts received on debt extinguishment	(1,543)	5,313
Dividends paid	(232,603)	(162,567)
Repurchase and retirement of common stock	0	(201,029)
Net distribution to noncontrolling interest	(1,640)	(7,322)
Cash paid for taxes to net settle share-based incentive awards	(92,492)	(41,238)
Other financing activities	(2,814)	2,276
Net cash provided by (used in) financing activities	99,638	(174,249)
Net change in cash and cash equivalents	8,003	(1,393,894)
Cash and cash equivalents at beginning of period	80,977	1,458,644
Cash and cash equivalents at end of period	$ 88,980	$ 64,750

STATEMENTS OF CONDENSED CONSO_5

STATEMENTS OF CONDENSED CONSOLIDATED EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss		Noncontrolling Interest in Consolidated Subsidiaries
Beginning balance (in shares) at Dec. 31, 2022		365,363
Beginning balance at Dec. 31, 2022	$ 11,213,328	$ 9,891,890	$ 1,283,578	$ (2,994)	[1]	$ 40,854
Comprehensive income (loss), net of tax
Net (loss) income	1,233,097		1,233,177			(80)
Other post-retirement benefits liability adjustment, net of tax	270			270	[1]
Dividends	(162,567)		(162,567)
Share-based compensation plans (in shares)		2,247
Share-based compensation plans	5,367	$ 5,367
Convertible Notes settlements (in shares)		7
Convertible Notes settlements	98	$ 98
Repurchase and retirement of common stock (in shares)		(5,906)
Repurchase and retirement of common stock	(201,029)	$ (91,545)	(109,484)
Acquisitions and Merger (in shares)		49,600
Acquisition and Merger	2,152,631	$ 2,152,631
Distribution to noncontrolling interest	(11,072)					(11,072)
Contribution from noncontrolling interest	3,750					3,750
Dissolution of consolidated variable interest entity	(25,227)					(25,227)
Other	911		911
Ending balance (in shares) at Sep. 30, 2023		411,311
Ending balance at Sep. 30, 2023	14,209,557	$ 11,958,441	2,245,615	(2,724)	[1]	8,225
Beginning balance (in shares) at Jun. 30, 2023		361,654
Beginning balance at Jun. 30, 2023	12,045,028	$ 9,790,855	2,217,698	(2,781)	[2]	39,256
Comprehensive income (loss), net of tax
Net (loss) income	80,730		81,255			(525)
Other post-retirement benefits liability adjustment, net of tax	57			57	[2]
Dividends	(54,249)		(54,249)
Share-based compensation plans (in shares)		56
Share-based compensation plans	14,939	$ 14,939
Convertible Notes settlements (in shares)		1
Convertible Notes settlements	16	$ 16
Acquisitions and Merger (in shares)		49,600
Acquisition and Merger	2,152,631	$ 2,152,631
Distribution to noncontrolling interest	(5,279)					(5,279)
Dissolution of consolidated variable interest entity	(25,227)					(25,227)
Other	911		911
Ending balance (in shares) at Sep. 30, 2023		411,311
Ending balance at Sep. 30, 2023	14,209,557	$ 11,958,441	2,245,615	(2,724)	[1]	8,225
Beginning balance (in shares) at Dec. 31, 2023		419,896
Beginning balance at Dec. 31, 2023	14,780,817	$ 12,093,986	2,681,898	(2,684)	[1]	7,617
Comprehensive income (loss), net of tax
Net (loss) income	(185,130)		(187,818)			2,688
Other post-retirement benefits liability adjustment, net of tax	114			114	[1]
Dividends	(232,994)		(232,994)
Share-based compensation plans (in shares)		3,952
Share-based compensation plans	54,751	$ 54,751
Convertible Notes settlements (in shares)		19,992
Convertible Notes settlements	285,608	$ 285,608
Acquisitions and Merger (in shares)		152,428
Acquisition and Merger	5,693,502	$ 5,548,608				144,894
Net settlement of Capped Call Transactions	93,290	$ 93,290
Distribution to noncontrolling interest	(1,640)					(1,640)
Ending balance (in shares) at Sep. 30, 2024		596,268
Ending balance at Sep. 30, 2024	20,488,318	$ 18,076,243	2,261,086	(2,570)	[2]	153,559
Beginning balance (in shares) at Jun. 30, 2024		441,597
Beginning balance at Jun. 30, 2024	15,124,748	$ 12,464,492	2,655,940	(2,598)	[2]	6,914
Comprehensive income (loss), net of tax
Net (loss) income	(297,432)		(300,823)			3,391
Other post-retirement benefits liability adjustment, net of tax	28			28	[2]
Dividends	(94,031)		(94,031)
Share-based compensation plans (in shares)		2,243
Share-based compensation plans	63,143	$ 63,143
Acquisitions and Merger (in shares)		152,428
Acquisition and Merger	5,693,502	$ 5,548,608				144,894
Distribution to noncontrolling interest	(1,640)					(1,640)
Ending balance (in shares) at Sep. 30, 2024		596,268
Ending balance at Sep. 30, 2024	$ 20,488,318	$ 18,076,243	$ 2,261,086	$ (2,570)	[2]	$ 153,559

[1] Amounts included in accumulated other comprehensive loss are related to other postretirement benefits liability adjustments, net of tax, which are attributable to net actuarial losses and net prior service costs. Amounts included in accumulated other comprehensive loss are related to other postretirement benefits liability adjustments, net of tax, which are attributable to net actuarial losses and net prior service costs.

STATEMENTS OF CONDENSED CONSO_6

STATEMENTS OF CONDENSED CONSOLIDATED EQUITY (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Other post-retirement benefits liability adjustment, net of tax	$ 13	$ 15	$ 39	$ 44
Dividends (in dollars per share)	$ 0.1575	$ 0.15	$ 0.4725	$ 0.45
Common stock, authorized shares (in shares)	1,280,000,000	640,000,000	1,280,000,000	640,000,000
Preferred stock authorized (in shares)	3,000,000	3,000,000	3,000,000	3,000,000
Preferred stock issued (in shares)	0	0	0	0
Preferred stock outstanding (in shares)	0	0	0	0

Financial Statements

Financial Statements	9 Months Ended
Financial Statements	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statements	Financial Statements Nature of Operations. EQT Corporation is an integrated natural gas production, gathering and transmission company with operations focused in the Appalachian Basin. In this Quarterly Report on Form 10-Q, references to "EQT" refer to EQT Corporation and references to the "Company" refer collectively to EQT Corporation and its consolidated subsidiaries in each case unless otherwise noted or indicated. Basis of Presentation. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for interim financial information and with the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and notes required by GAAP for complete financial statements. In the opinion of management, these statements include all adjustments (consisting of only normal recurring accruals unless otherwise disclosed in this Quarterly Report on Form 10-Q) necessary for a fair presentation of the financial position of the Company as of September 30, 2024 and December 31, 2023, the results of its operations and equity for the three and nine month periods ended September 30, 2024 and 2023 and its cash flows for the nine month periods ended September 30, 2024 and 2023. Certain previously reported amounts have been reclassified to conform to the current period presentation. In addition, as discussed further in Note 2, certain prior period amounts have been recast to reflect the Company's change in reportable segments from one reportable segment to three reportable segments consisting of Production, Gathering and Transmission. The Condensed Consolidated Balance Sheet at December 31, 2023 has been derived from the audited financial statements at that date. For further information, refer to the Consolidated Financial Statements and accompanying notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. Principles of Consolidation. The Condensed Consolidated Financial Statements include the accounts of EQT and all subsidiaries, ventures and partnerships in which EQT directly or indirectly holds a controlling interest. Intercompany accounts and transactions have been eliminated in consolidation. Upon the closing of the Equitrans Midstream Merger (defined in Note 12), the Company acquired a controlling 60% interest in Eureka Midstream Holdings, LLC (Eureka Midstream Holdings) and an equity method investment in Mountain Valley Pipeline, LLC (the MVP Joint Venture). Eureka Midstream Holdings is a joint venture that owns a gathering header pipeline system that is operated by a subsidiary of EQT. Because the Company is the primary beneficiary of Eureka Midstream Holdings, the Company consolidates Eureka Midstream Holdings and records noncontrolling interest in its Condensed Consolidated Financial Statements. See Note 7 for discussion of the revolving credit facility of Eureka Midstream, LLC (Eureka), a wholly-owned subsidiary of Eureka Midstream Holdings. The MVP Joint Venture is a joint venture formed among a subsidiary of EQT and, as applicable, affiliates of each of NextEra Energy, Inc., Consolidated Edison, Inc., AltaGas Ltd. and RGC Resources, Inc. for purposes of constructing and operating the Mountain Valley Pipeline (the MVP) and the MVP Southgate project (MVP Southgate). See Note 8 for further discussion of the MVP Joint Venture, the MVP and MVP Southgate. Because the Company has the ability to exercise significant influence over the MVP Joint Venture but does not have the power to direct the activities that most significantly affect the MVP Joint Venture's economic performance, the Company applies the equity method of accounting to the MVP Joint Venture. Supplemental Cash Flow Information . The following table summarizes net cash paid for interest and income taxes and non-cash activity included in the Statements of Condensed Consolidated Cash Flows. Nine Months Ended September 30, 2024 2023 (Thousands) Cash paid during the period for: Interest, net of amount capitalized $ 196,632 $ 145,787 Income taxes, net 4,850 13,441 Non-cash activity during the period for: Equity issued as consideration for acquisition (Notes 12 and 11) $ 5,548,608 $ 2,152,631 Issuance of EQT common stock for Convertible Notes settlement (Note 7) 285,608 98 NEPA Non-Operated Asset Divestiture (Note 11) 155,241 — Increase in right-of-use assets and lease liabilities, net 11,501 25,849 Increase in asset retirement costs and obligations 7,947 5,216 Capitalization of non-cash equity share-based compensation 5,273 4,587 Investments in nonconsolidated entities 17,598 — Dissolution of consolidated variable interest entity — 25,227 Common Stock. On July 18, 2024, following approval by its shareholders, EQT amended its Restated Articles of Incorporation to increase the authorized number of shares of EQT common stock from 640,000,000 shares to 1,280,000,000 shares. Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through the requirement of enhanced disclosure of significant segment expenses. In addition, this ASU enhances interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss and provides new segment disclosure requirements for entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company does not expect adoption of ASU 2023-07 to have a material impact on its currently-presented financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes: Improvements to Income Tax Disclosures to improve its income tax disclosure requirements. Under this ASU, public business entities must annually (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. This ASU is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company does not expect adoption of ASU 2023-09 to have a material impact on its financial statements and related disclosures.

Financial Information by Busine

Financial Information by Business Segment	9 Months Ended
Financial Information by Business Segment	Sep. 30, 2024
Segment Reporting [Abstract]
Financial Information by Business Segment	Financial Information by Business Segment Prior to the completion of the Equitrans Midstream Merger, the Company's operations consisted of one reportable segment. Historically, the Company administered all properties as a whole rather than by discrete operating segments and measured financial performance as a single enterprise and not on an area-by-area basis. As a result of the completion of the Equitrans Midstream Merger, the Company adjusted its internal reporting structure and the Company's chief operating decision maker changed the manner in which he allocates resources and measures financial performance to incorporate the gathering and transmission assets acquired by the Company in the Equitrans Midstream Merger. Hence, the Company's operations expanded to comprise three discrete operating segments reflective of its three lines of business consisting of Production, Gathering and Transmission. Accordingly, the manner in which the Company reports its operations has been changed retrospectively, with certain prior period amounts recast between Production and Gathering. Certain amounts, including cash and cash equivalents, debt, income taxes and other amounts related to the Company's headquarters function as well as amounts related to the Company's energy transition initiatives, are managed on a consolidated basis and, as such, have not been allocated to the Company's reportable segments and are presented as "Other" along with intersegment eliminations. Water assets acquired in the Equitrans Midstream Merger primarily support the Company's production operations and, as such, have been included in the Company's Production segment. Substantially all of the Company's operating revenues and assets are generated and located in the United States. Profit and loss metric with reconciliation to net (loss) income attributable to EQT Corporation for the three months ended September 30, 2024 Production Gathering Transmission Other and intersegment eliminations EQT Corporation (Thousands) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 1,099,752 $ — $ — $ — $ 1,099,752 Gain (loss) on derivatives 72,489 (5,673) — — 66,816 Pipeline, net marketing services and other 5,826 276,829 87,384 (252,805) 117,234 Total operating revenues 1,178,067 271,156 87,384 (252,805) 1,283,802 Operating expenses: Transportation and processing 693,670 — — (252,825) 440,845 Production 93,842 — — — 93,842 Operating and maintenance — 30,712 9,806 — 40,518 Exploration 282 — — — 282 Selling, general and administrative (a) 62,952 11,366 5,492 8,660 88,470 Depreciation, depletion and amortization 530,745 37,773 17,109 3,672 589,299 Loss on sale/exchange of long-lived assets 9,708 — 409 — 10,117 Impairment and expiration of leases 12,095 — — — 12,095 Other operating expenses (b) 10,206 — — 279,968 290,174 Total operating expenses 1,413,500 79,851 32,816 39,475 1,565,642 Operating (loss) income $ (235,433) $ 191,305 $ 54,568 $ (292,280) $ (281,840) Reconciliation of profit and loss metric to net (loss) income attributable to EQT Corporation Loss (income) from investments $ 1,671 $ (597) $ (35,616) $ 300 $ (34,242) Other income (3,488) (128) (75) (269) (3,960) Loss on debt extinguishment — — — 365 365 Interest expense, net — — — 158,299 158,299 (Loss) income before income taxes (233,616) 192,030 90,259 (450,975) (402,302) Income tax benefit — — — (104,870) (104,870) Net (loss) income (233,616) 192,030 90,259 (346,105) (297,432) Less: Net income (loss) attributable to noncontrolling interests — 3,687 — (296) 3,391 Net (loss) income attributable to EQT Corporation $ (233,616) $ 188,343 $ 90,259 $ (345,809) $ (300,823) (a) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast as the necessary information is not available and the cost to develop such information would be excessive. (b) Corporate other operating expenses consisted primarily of transaction costs related to the Equitrans Midstream Merger. See Note 12. Profit and loss metric with reconciliation to net income attributable to EQT Corporation for the three months ended September 30, 2023 Production Gathering Other and intersegment eliminations EQT Corporation (Thousands) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 1,001,883 $ — $ — $ 1,001,883 Gain on derivatives 177,906 — — 177,906 Pipeline, net marketing services and other 3,456 42,057 (39,200) 6,313 Total operating revenues 1,183,245 42,057 (39,200) 1,186,102 Operating expenses: Transportation and processing 593,988 — (39,200) 554,788 Production 62,858 — — 62,858 Operating and maintenance — 4,235 — 4,235 Exploration 447 — — 447 Selling, general and administrative (a) 56,942 — — 56,942 Depreciation, depletion and amortization 440,360 4,054 2,472 446,886 Loss on sale/exchange of long-lived assets 1,511 — — 1,511 Impairment and expiration of leases 6,419 — — 6,419 Other operating expenses (b) (621) — 36,830 36,209 Total operating expenses 1,161,904 8,289 102 1,170,295 Operating income (loss) $ 21,341 $ 33,768 $ (39,302) $ 15,807 Reconciliation of profit and loss metric to net income attributable to EQT Corporation Loss (income) from investments $ 424 $ (255) $ 377 $ 546 Other income — — (132) (132) Loss on debt extinguishment — — 1,089 1,089 Interest expense, net — — 60,427 60,427 Income (loss) before income taxes 20,917 34,023 (101,063) (46,123) Income tax benefit — — (126,853) (126,853) Net income 20,917 34,023 25,790 80,730 Less: Net income (loss) attributable to noncontrolling interests 149 — (674) (525) Net income attributable to EQT Corporation $ 20,768 $ 34,023 $ 26,464 $ 81,255 (a) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast as the necessary information is not available and the cost to develop such information would be excessive. (b) Corporate other operating expenses consisted primarily of transaction costs related to the Tug Hill and XcL Midstream Acquisition (defined in Note 11). Profit and loss metric with reconciliation to net (loss) income attributable to EQT Corporation for the nine months ended September 30, 2024 Production Gathering Transmission Other and intersegment eliminations EQT Corporation (Thousands) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 3,293,174 $ — $ — $ — $ 3,293,174 Gain (loss) on derivatives 240,333 (5,673) — — 234,660 Pipeline, net marketing services and other 2,757 415,491 87,384 (384,884) 120,748 Total operating revenues 3,536,264 409,818 87,384 (384,884) 3,648,582 Operating expenses: Transportation and processing 1,914,010 — — (384,917) 1,529,093 Production 273,042 — — — 273,042 Operating and maintenance — 56,018 9,806 — 65,824 Exploration 2,576 — — — 2,576 Selling, general and administrative (a) 180,767 11,366 5,492 31,105 228,730 Depreciation, depletion and amortization 1,470,966 45,282 17,109 8,674 1,542,031 (Gain) loss on sale/exchange of long-lived assets (310,252) (22) 409 — (309,865) Impairment and expiration of leases 58,963 — — — 58,963 Other operating expenses (b) 23,650 — — 330,687 354,337 Total operating expenses 3,613,722 112,644 32,816 (14,451) 3,744,731 Operating (loss) income $ (77,458) $ 297,174 $ 54,568 $ (370,433) $ (96,149) Reconciliation of profit and loss metric to net (loss) income attributable to EQT Corporation (Income) loss from investments $ (371) $ (2,109) $ (35,616) $ 1,422 $ (36,674) Other income (17,638) (5,153) (75) (730) (23,596) Loss on debt extinguishment — — — 5,651 5,651 Interest expense, net — — — 268,390 268,390 (Loss) income before income taxes (59,449) 304,436 90,259 (645,166) (309,920) Income tax benefit — — — (124,790) (124,790) Net (loss) income (59,449) 304,436 90,259 (520,376) (185,130) Less: Net income (loss) attributable to noncontrolling interests — 3,687 — (999) 2,688 Net (loss) income attributable to EQT Corporation $ (59,449) $ 300,749 $ 90,259 $ (519,377) $ (187,818) (a) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast as the necessary information is not available and the cost to develop such information would be excessive. (b) Corporate other operating expenses consisted primarily of transaction costs related to the Equitrans Midstream Merger. See Note 12. Profit and loss metric with reconciliation to net income (loss) attributable to EQT Corporation for the nine months ended September 30, 2023 Production Gathering Other and intersegment eliminations EQT Corporation (Thousands) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 3,680,566 $ — $ — $ 3,680,566 Gain on derivatives 1,167,144 — — 1,167,144 Pipeline, net marketing services and other 9,675 95,753 (87,214) 18,214 Total operating revenues 4,857,385 95,753 (87,214) 4,865,924 Operating expenses: Transportation and processing 1,680,009 — (87,075) 1,592,934 Production 163,963 — — 163,963 Operating and maintenance — 6,108 — 6,108 Exploration 2,602 — — 2,602 Selling, general and administrative (a) 168,999 — — 168,999 Depreciation, depletion and amortization 1,214,882 8,077 7,296 1,230,255 Loss on sale/exchange of long-lived assets 17,814 — — 17,814 Impairment and expiration of leases 22,290 — — 22,290 Other operating expenses (b) 7,645 — 61,620 69,265 Total operating expenses 3,278,204 14,185 (18,159) 3,274,230 Operating income (loss) $ 1,579,181 $ 81,568 $ (69,055) $ 1,591,694 Reconciliation of profit and loss metric to net income (loss) attributable to EQT Corporation (Income) loss from investments $ (2,675) $ (4,004) $ 1,369 $ (5,310) Other income (395) — (474) (869) Gain on debt extinguishment — — (55) (55) Interest expense, net — — 146,856 146,856 Income (loss) before income taxes 1,582,251 85,572 (216,751) 1,451,072 Income tax expense — — 217,975 217,975 Net income (loss) 1,582,251 85,572 (434,726) 1,233,097 Less: Net income (loss) attributable to noncontrolling interests 1,588 — (1,668) (80) Net income (loss) attributable to EQT Corporation $ 1,580,663 $ 85,572 $ (433,058) $ 1,233,177 (a) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast as the necessary information is not available and the cost to develop such information would be excessive. (b) Corporate other operating expenses consisted primarily of transaction costs related to the Tug Hill and XcL Midstream Acquisition. Assets by segment as of September 30, 2024 Production Gathering Transmission Other and intersegment eliminations EQT Corporation (Thousands) Investment in the MVP Joint Venture $ — $ — $ 3,358,346 $ — $ 3,358,346 Goodwill — — 1,289,759 888,477 2,178,236 Other segment assets (a) 22,890,299 8,187,601 2,962,486 368,621 34,409,007 Total assets $ 22,890,299 $ 8,187,601 $ 7,610,591 $ 1,257,098 $ 39,945,589 (a) Other segment assets in other and intersegment eliminations includes cash and cash equivalents. Assets by segment as of September 30, 2023 Production Gathering Other and intersegment eliminations EQT Corporation (Thousands) Total assets (a) $ 23,138,353 $ 1,167,766 $ 248,869 $ 24,554,988 (a) Total assets in other and intersegment eliminations includes cash and cash equivalents. The Company did not have an investment in the MVP Joint Venture or goodwill as of September 30, 2023. Capital expenditures by segment Three Months Ended September 30, Nine Months Ended 2024 2023 2024 2023 (Thousands) Capital expenditures: Production (a) $ 454,772 $ 435,646 $ 1,539,904 $ 1,366,669 Gathering (b) 79,597 6,941 111,644 11,521 Transmission 10,118 — 10,118 — Other 13,402 1,998 21,345 8,546 Total capital expenditures $ 557,889 $ 444,585 $ 1,683,011 $ 1,386,736 (a) Production capital expenditures included capital expenditures attributable to the noncontrolling interest in The Mineral Company LLC (a joint venture formed between a subsidiary of EQT and a third-party investor for the purpose of purchasing certain mineral rights in the Appalachian Basin) of approximately $8.5 million for the nine months ended September 30, 2023. The Mineral Company LLC was dissolved in the third quarter of 2023. (b) Gathering capital expenditures included capital expenditures attributable to the noncontrolling interest in Eureka Midstream Holdings of approximately $1.6 million for both the three and nine months ended September 30, 2024. See Notes 1 and 12. Intersegment contracts On February 26, 2020, EQT and certain of its affiliates (such parties, collectively, the EQT Producer) entered into a gas gathering and compression agreement (the Consolidated GGA) with an affiliate of EQM Midstream Partners, LP (EQM), which became an indirect wholly-owned subsidiary of EQT upon the closing of the Equitrans Midstream Merger. Pursuant to the terms of the Consolidated GGA, among other things, the EQM affiliate agreed to provide gas gathering services to the EQT Producer, and the EQT Producer committed to an initial annual minimum volume commitment (MVC) of 3.0 Bcf per day and an acreage dedication in Pennsylvania and West Virginia. The Consolidated GGA is effective through December 31, 2035 and will renew annually thereafter unless terminated by the parties thereto. The Consolidated GGA provides for cash bonus payments (the Henry Hub Cash Bonus) payable by the EQT Producer to the EQM affiliate during each quarter beginning with the first day of the quarter in which the MVP In-Service Date (as defined in the Consolidated GGA) occurs and ending on the earlier of 36 months thereafter or December 31, 2024. Such payments are conditioned upon the quarterly average of the NYMEX Henry Hub natural gas settlement price exceeding certain price thresholds. Upon commencement of long-term firm capacity obligations, the MVP In-Service Date occurred on July 1, 2024. See Note 8. The EQT Producer's derivative liability and any gain or loss realized related to the Henry Hub Cash Bonus are included in the Company's Production segment; the EQM affiliate's derivative asset and any gain or loss realized related to the Henry Hub Cash Bonus are included in the Company's Gathering segment. All balances and gains or losses related to the Henry Hub Cash Bonus have been eliminated in consolidation. As of September 30, 2024 and December 31, 2023, the derivative related to the Henry Hub Cash Bonus had a fair value of approximately $15 million and $48 million, respectively. The fair value of the derivative asset and liability related to the Henry Hub Cash Bonus is based on significant inputs that are interpolated from observable market data and, as such, is a Level 2 fair value measurement. See Note 5 for a description of the fair value hierarchy.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
Revenue from Contracts with Customers	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Sales of natural gas, NGLs and oil . Under the Company's natural gas, natural gas liquids (NGLs) and oil sales contracts, the Company generally considers the delivery of each unit (million British thermal units (MMBtu) or barrel (Bbl)) to be a separate performance obligation that is satisfied upon delivery. These contracts typically require payment within 25 days of the end of the calendar month in which the commodity is delivered. A significant number of these contracts contain variable consideration because the payment terms refer to market prices at future delivery dates. In these situations, the Company has not identified a standalone selling price because the terms of the variable payments relate specifically to the Company's efforts to satisfy the performance obligations. Other contracts, such as fixed price contracts or contracts with a fixed differential to New York Mercantile Exchange (NYMEX) or index prices, contain fixed consideration. The fixed consideration is allocated to each performance obligation on a relative standalone selling price basis, which requires judgment from management. For these contracts, the Company generally concludes that the fixed price or fixed differentials in the contracts are representative of the standalone selling price. Based on management's judgment, the performance obligations for the sale of natural gas, NGLs and oil are satisfied at a point in time because the customer obtains control and legal title of the asset when the natural gas, NGLs or oil is delivered to the designated sales point. The sales of natural gas, NGLs and oil presented in the Statements of Condensed Consolidated Operations represent the Company's share of revenues net of royalties and exclude revenue interests owned by others. When selling natural gas, NGLs and oil on behalf of royalty or working interest owners, the Company acts as an agent and, thus, reports the revenue on a net basis. Pipeline revenue. The Company recognizes revenue under gathering and transmission and storage contracts when it satisfies certain performance obligations. The Company provides firm and interruptible gathering and transmission and storage services. Firm service contracts generally require the customer to pay a firm reservation fee, which is a fixed, monthly charge to reserve an agreed upon amount of pipeline or storage capacity regardless of whether the customer uses the capacity. Volumetric-based fees, which are charges based on the volume of gas gathered, transported or stored, can also be charged under firm contracts for each firm contracted volume gathered, transported or stored, as well as for volumes gathered, transported or stored in excess of the firm contracted volume so long as capacity exists. Interruptible service contracts require the customer to pay volumetric-based fees and generally do not guarantee access to the pipeline or storage facility. Gathering and transmission and storage services contracts can be short-term or long-term in duration. Firm and interruptible gathering service contracts are invoiced on a one-month lag, with payment typically due within 21 days of the invoice date. Revenue for gathering services provided but not yet invoiced is estimated based on contract data, preliminary throughput and allocation measurements on a monthly basis. Firm and interruptible transmission and storage service contracts are invoiced at the end of each calendar month, with payment typically due within 10 days of the invoice date. Under its firm service contracts, the Company has a stand-ready obligation to provide the firm service over the life of the contract. The performance obligation for revenue from firm reservation fees is satisfied over time as the pipeline capacity is made available to the customer. As such, the Company recognizes firm reservation fee revenue evenly over the contract period using a time-elapsed output method to measure progress. The performance obligation for revenue from volumetric-based fees is generally satisfied upon the Company's monthly invoicing to the customer for volumes gathered, transported or stored during the month. The amount invoiced generally corresponds directly to the value of the Company's performance to date as the customer obtains value as each volume is gathered, transported or stored. For all of the Company's gathering and transmission and storage services contracts, the Company allocates the transaction price to each performance obligation based on the estimated relative standalone selling price. Any excess of consideration received over revenue recognized results in the deferral of those amounts until future periods based on a units-of-production or straight-line methodology as these methods align with the consumption of services provided to the customer. The units-of-production methodology requires the use of judgment to estimate future production volumes. Certain of the Company's gathering service agreements are structured with MVCs, which specify minimum quantities that the customer will be charged regardless of whether such quantities are gathered. Revenue is recognized for MVCs when the performance obligation has been met, which is the earlier of when the gas is gathered or when the likelihood that the customer will be able to meet its MVC is remote. If a customer fails to meet its MVC for a specified period (thus not exercising all the contractual rights to gathering services within the specified period), the customer is obligated to pay a contractually-determined fee based on the shortfall between actual volume gathered and the MVC. Disaggregated revenue information. The table below provides disaggregated information on the Company's revenues. Certain other revenue contracts are outside the scope of ASU 2014-09, Revenue from Contracts with Customers . These contracts are reported in pipeline, net marketing services and other revenues in the Statements of Condensed Consolidated Operations. Derivative contracts are also outside the scope of ASU 2014-09. Three Months Ended Nine Months Ended 2024 2023 2024 2023 (Thousands) Revenues from contracts with customers: Production: Sales of natural gas, NGLs and oil Natural gas sales $ 938,911 $ 859,512 $ 2,791,190 $ 3,337,600 NGLs sales 139,697 108,205 435,581 274,932 Oil sales 21,144 34,166 66,403 68,034 Sales of natural gas, NGLs and oil 1,099,752 1,001,883 3,293,174 3,680,566 Gathering: Pipeline revenues Firm reservation fee revenues (a) 136,752 — 136,752 — Volumetric-based fee revenues 140,077 42,057 278,739 95,753 Total 276,829 42,057 415,491 95,753 Transmission: Pipeline revenues Firm reservation fee revenues 73,034 — 73,034 — Volumetric-based fee revenues 14,226 — 14,226 — Total 87,260 — 87,260 — Other and intersegment eliminations (252,805) (39,200) (384,884) (87,214) Total revenues from contracts with customers $ 1,211,036 $ 1,004,740 $ 3,411,041 $ 3,689,105 Other sources of revenue: Gain on derivatives $ 66,816 $ 177,906 $ 234,660 $ 1,167,144 Net marketing services and other revenues 5,950 3,456 2,881 9,675 Total other sources of revenue $ 72,766 $ 181,362 $ 237,541 $ 1,176,819 Total operating revenues $ 1,283,802 $ 1,186,102 $ 3,648,582 $ 4,865,924 (a) Firm reservation fee revenues for the three and nine months ended September 30, 2024 included unbilled revenues supported by MVCs of approximately $1.8 million. For contracts with customers where the Company's performance obligations had been satisfied and an unconditional right to consideration existed as of the balance sheet date, the Company recorded amounts due from contracts with customers of $443.3 million and $584.8 million in accounts receivable in the Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023, respectively. Summary of remaining performance obligations . The following table summarizes the transaction price allocated to the Company's remaining obligations on all contracts with fixed consideration as of September 30, 2024. The table excludes contracts that qualified for the exception to the relative standalone selling price method as of September 30, 2024. The MVP Joint Venture is accounted for as an equity method investment and, as such, its remaining performance obligations have been excluded from the table. 2024 (a) 2025 2026 2027 2028 Thereafter Total (Thousands) Gathering firm reservation fees: Third-party contracts $ 25,850 $ 101,137 $ 92,186 $ 85,651 $ 85,651 $ 457,444 $ 847,919 Affiliate contracts 22,445 87,075 80,698 80,362 76,670 1,188,383 1,535,633 Total Gathering firm reservation fees 48,295 188,212 172,884 166,013 162,321 1,645,827 2,383,552 Gathering revenues supported by MVCs: Third-party contracts 21,036 82,257 89,078 80,765 77,014 250,652 600,802 Affiliate contracts 90,630 372,446 397,966 410,621 411,740 2,453,073 4,136,476 Total Gathering revenues supported by MVCs 111,666 454,703 487,044 491,386 488,754 2,703,725 4,737,278 Transmission firm reservation fees: Third-party contracts 48,754 175,010 174,191 171,750 169,393 980,973 1,720,071 Affiliate contracts 57,415 227,116 225,588 225,588 225,260 1,752,347 2,713,314 Total Transmission firm reservation fees 106,169 402,126 399,779 397,338 394,653 2,733,320 4,433,385 Total $ 266,130 $ 1,045,041 $ 1,059,707 $ 1,054,737 $ 1,045,728 $ 7,082,872 $ 11,554,215 (a) October 1 through December 31. As of September 30, 2024, the Company had no remaining performance obligations on its natural gas sales contracts with fixed consideration. Based on total projected contractual revenues, the Company's firm gathering affiliate contracts and firm transmission and storage affiliate contracts had weighted average remaining terms of approximately 13 years and 11 years, respectively, as of September 30, 2024. Based on total projected contractual revenues, the Company's firm gathering third-party contracts and firm transmission and storage third-party contracts had weighted average remaining terms of approximately 12 years and 11 years, respectively, as of September 30, 2024.

Derivative Instruments

Derivative Instruments	9 Months Ended
Derivative Instruments	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company's primary market risk exposure is the volatility of future prices for natural gas and NGLs, which can affect the Company's operating results. The Company uses derivative commodity instruments to hedge its cash flows from sales of produced natural gas and NGLs. The overall objective of the Company's hedging program is to protect cash flows from undue exposure to the risk of changing commodity prices. The derivative commodity instruments used by the Company are primarily swap, collar and option agreements. These agreements may result in payments to, or receipt of payments from, counterparties based on the differential between two prices for the commodity. The Company uses these agreements to hedge its NYMEX and basis exposure. The Company may also use other contractual agreements when executing its commodity hedging strategy. The Company typically enters into over the counter (OTC) derivative commodity instruments with financial institutions, and the creditworthiness of all counterparties is regularly monitored. The Company does not designate any of its derivative instruments as cash flow hedges; therefore, all changes in fair value of the Company's derivative instruments are recognized in operating revenues in gain on derivatives in the Statements of Condensed Consolidated Operations. The Company recognizes all derivative instruments as either assets or liabilities at fair value on a gross basis. These derivative instruments are reported as either current assets or current liabilities due to their highly liquid nature. The Company can net settle its derivative instruments at any time. Contracts that result in physical delivery of a commodity expected to be sold by the Company in the normal course of business are generally designated as normal sales and are exempt from derivative accounting. Contracts that result in the physical receipt or delivery of a commodity but are not designated or do not meet all of the criteria to qualify for the normal purchase and normal sale scope exception are subject to derivative accounting. The Company's OTC derivative instruments generally require settlement in cash. The Company also enters into exchange traded derivative commodity instruments that are generally settled with offsetting positions. Settlements of derivative commodity instruments are reported as a component of cash flows from operating activities in the Statements of Condensed Consolidated Cash Flows. With respect to the derivative commodity instruments held by the Company, the Company hedged portions of its expected sales of production and portions of its basis exposure covering approximately 2,574 Bcf of natural gas and 1,464 thousand barrels (Mbbl) of NGLs as of September 30, 2024 and 2,045 Bcf of natural gas and 1,049 Mbbl of NGLs as of December 31, 2023. The open positions at both September 30, 2024 and December 31, 2023 had maturities extending through December 2027. Certain of the Company's OTC derivative instrument contracts provide that, if EQT's credit rating assigned by Moody's Investors Service, Inc. (Moody's), S&P Global Ratings (S&P) or Fitch Ratings Service (Fitch) is below the agreed-upon credit rating threshold (typically, below investment grade) and if the associated derivative liability exceeds the agreed-upon dollar threshold for such credit rating, the counterparty to such contract can require the Company to deposit collateral. Similarly, if such counterparty's credit rating assigned by Moody's, S&P or Fitch is below the agreed-upon credit rating threshold and if the associated derivative liability exceeds the agreed-upon dollar threshold for such credit rating, the Company can require the counterparty to deposit collateral with the Company. Such collateral can be up to 100% of the derivative liability. Investment grade refers to the quality of a company's credit as assessed by one or more credit rating agencies. To be considered investment grade, a company must be rated "Baa3" or higher by Moody's, "BBB–" or higher by S&P and "BBB–" or higher by Fitch. Anything below these ratings is considered non-investment grade. As of September 30, 2024, EQT's senior notes were rated "Baa3" by Moody's, "BBB–" by S&P and "BBB–" by Fitch. When the net fair value of any of the Company's OTC derivative instrument contracts represents a liability to the Company that is in excess of the agreed-upon dollar threshold for the Company's then-applicable credit rating, the counterparty has the right to require the Company to remit funds as a margin deposit in an amount equal to the portion of the derivative liability that is in excess of the dollar threshold amount. The Company records these deposits as a current asset in the Condensed Consolidated Balance Sheets. As of September 30, 2024, none of the Company's OTC derivative instruments with credit rating risk-related contingent features were in a net liability position. As of December 31, 2023, the aggregate fair value of the Company's OTC derivative instruments with credit rating risk-related contingent features in a net liability position was $6.4 million, for which no deposits were required or recorded in the Condensed Consolidated Balance Sheet. When the net fair value of any of the Company's OTC derivative instrument contracts represents an asset to the Company that is in excess of the agreed-upon dollar threshold for the counterparty's then-applicable credit rating, the Company has the right to require the counterparty to remit funds as a margin deposit in an amount equal to the portion of the derivative asset that is in excess of the dollar threshold amount. The Company records these deposits as a current liability in the Condensed Consolidated Balance Sheets. As of both September 30, 2024 and December 31, 2023, there were no such deposits recorded in the Condensed Consolidated Balance Sheets. When the Company enters into exchange traded natural gas contracts, exchanges may require the Company to remit funds to the corresponding broker as good-faith deposits to guard against the risks associated with changing market conditions. The Company is required to make such deposits based on an established initial margin requirement and the net liability position, if any, of the fair value of the associated contracts. The Company records these deposits as a current asset in the Condensed Consolidated Balance Sheets. When the fair value of such contracts is in a net asset position, the broker may remit funds to the Company. The Company records these deposits as a current liability in the Condensed Consolidated Balance Sheets. The initial margin requirements are established by the exchanges based on the price, volatility and the time to expiration of the contract. The margin requirements are subject to change at the exchanges' discretion. As of September 30, 2024 and December 31, 2023, there were $17.5 million and $13.0 million, respectively, of such deposits recorded as current assets in the Condensed Consolidated Balance Sheets. The Company has netting agreements with financial institutions and its brokers that permit net settlement of gross commodity derivative assets against gross commodity derivative liabilities. The table below summarizes the impact of netting agreements and margin deposits on gross derivative assets and liabilities. Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Derivative instruments subject to Margin requirements with counterparties Net derivative instruments (Thousands) September 30, 2024 Asset derivative instruments, at fair value $ 251,657 $ (152,115) $ — $ 99,542 Liability derivative instruments, at fair value 197,712 (152,115) (17,488) 28,109 December 31, 2023 Asset derivative instruments, at fair value $ 978,634 $ (112,203) $ — $ 866,431 Liability derivative instruments, at fair value 186,363 (112,203) (13,017) 61,143

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company records its financial instruments, which are principally derivative instruments, at fair value in the Condensed Consolidated Balance Sheets. The Company estimates the fair value of its financial instruments using quoted market prices when available. If quoted market prices are not available, the fair value is based on models that use market-based parameters, including forward curves, discount rates, volatilities and nonperformance risk, as inputs. Nonperformance risk considers the effect of the Company's credit standing on the fair value of liabilities and the effect of the counterparty's credit standing on the fair value of assets. The Company estimates nonperformance risk by analyzing publicly available market information, including a comparison of the yield on debt instruments with credit ratings similar to EQT's or the counterparty's credit rating and the yield on a risk-free instrument. The Company has categorized its assets and liabilities recorded at fair value into a three-level fair value hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Assets and liabilities that use Level 2 inputs primarily include the Company's swap, collar and option agreements. Exchange traded commodity swaps have Level 1 inputs. The fair value of the commodity swaps with Level 2 inputs is based on standard industry income approach models that use significant observable inputs, including, but not limited to, NYMEX natural gas forward curves, SOFR-based discount rates, basis forward curves and NGLs forward curves. The Company's collars and options are valued using standard industry income approach option models. The significant observable inputs used by the option pricing models include NYMEX forward curves, natural gas volatilities and SOFR-based discount rates. The table below summarizes assets and liabilities measured at fair value on a recurring basis. Fair value measurements at reporting date using: Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Quoted prices in active Significant other observable inputs Significant unobservable inputs (Thousands) September 30, 2024 Asset derivative instruments, at fair value $ 251,657 $ 41,772 $ 209,885 $ — Liability derivative instruments, at fair value 197,712 17,402 180,310 — December 31, 2023 Asset derivative instruments, at fair value $ 978,634 $ 66,302 $ 912,332 $ — Liability derivative instruments, at fair value 186,363 42,218 144,145 — The carrying value of cash equivalents, accounts receivable and accounts payable approximates fair value due to their short-term maturities. The carrying value of borrowings under EQT's revolving credit facility, Eureka's revolving credit facility and the Term Loan Facility (defined in Note 7) approximates fair value as each facility's interest rate is based on prevailing market rates. The Company considers all of these fair values to be Level 1 fair value measurements. The Company has an investment in a fund (the Investment Fund) that invests in companies developing technology and operating solutions for exploration and production companies. The Company values the Investment Fund using, as a practical expedient, the net asset value provided in the financial statements received from fund managers. The Company estimates the fair value of its senior notes using established fair value methodology. Because not all of the Company's senior notes are actively traded, their fair value is a Level 2 fair value measurement. As of September 30, 2024 and December 31, 2023, the Company's senior notes had a fair value of approximately $11.2 billion and $4.9 billion, respectively, and a carrying value of approximately $11.0 billion and $4.5 billion, respectively, inclusive of any current portion. See Note 7 for further discussion of the Company's debt. Upon the closing of the Equitrans Midstream Merger, EQT's note payable to EQM became an intercompany transaction on a consolidated basis and, as such, was effectively settled on July 22, 2024. See Note 12. As of December 31, 2023, the fair value of EQT's note payable to EQM was estimated using an income approach model with a market-based discount rate and was considered a Level 3 fair value measurement. As of December 31, 2023, EQT's note payable to EQM had a fair value and carrying value of approximately $91 million and $88 million, respectively, inclusive of any current portion. The Company recognizes transfers between Levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers between Levels 1, 2 and 3 during the periods presented. See Note 2 for a discussion of the fair value measurement of the Henry Hub Cash Bonus (which became an intercompany derivative asset and liability upon the closing of the Equitrans Midstream Merger). See Note 11 for a discussion of the fair value measurement of the NEPA Non-Operated Asset Divestiture (defined therein). See Note 12 for a discussion of the fair value measurement of the Equitrans Midstream Merger. See Note 1 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 for a discussion of the fair value measurement and any subsequent impairments of the Company's oil and gas properties and other long-lived assets, including impairment and expiration of leases.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the nine months ended September 30, 2024 and 2023, the Company calculated the provision for income taxes by applying an estimate of the annual effective tax rate for the full fiscal year to "ordinary" income or loss (pre-tax income or loss excluding unusual or infrequently occurring items) for the period. There were no material changes to the Company's methodology for determining unrecognized tax benefits during the nine months ended September 30, 2024. For the nine months ended September 30, 2024 and 2023, the Company recorded income tax (benefit) expense at an effective tax rate of 40.3% and 15.0%, respectively. The Company's effective tax rate for the nine months ended September 30, 2024 was higher compared to the U.S. federal statutory rate primarily as a result of recognition of tax benefits related to higher losses on the Company's state tax-paying entities and the utilization of some its capital loss carryforwards with the capital gain generated from the NEPA Non-Operated Asset Divestiture, which resulted in the release of the associated valuation allowance. The Company's effective tax rate for the nine months ended September 30, 2023 was lower compared to the U.S. federal statutory rate due primarily to the release of valuation allowances limiting certain state deferred tax assets and net state deferred tax benefits related to a rate reduction from a Pennsylvania tax law change enacted in July 2022 and the Tug Hill and XcL Midstream Acquisition.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The table below summarizes the Company's outstanding debt. September 30, 2024 December 31, 2023 Principal Value Carrying Value (a) Principal Value Carrying Value (a) (Thousands) EQT's revolving credit facility maturing July 23, 2029 $ 1,967,000 $ 1,967,000 $ — $ — Eureka's revolving credit facility maturing November 13, 2025 330,000 330,000 — — Term Loan Facility due June 30, 2026 (b) 500,000 497,970 1,250,000 1,244,265 Debentures and senior notes: EQT's 6.125% notes due February 1, 2025 (b) — — 601,521 600,389 EQM's 6.000% notes due July 1, 2025 400,000 400,150 — — EQT's 1.75% convertible notes due May 1, 2026 (c) — — 290,177 286,185 EQT's 3.125% notes due May 15, 2026 392,915 390,889 392,915 389,978 EQT's 7.75% debentures due July 15, 2026 115,000 114,088 115,000 113,716 EQM's 4.125% notes due December 1, 2026 500,000 487,340 — — EQM's 7.500% notes due June 1, 2027 500,000 512,554 — — EQM's 6.500% notes due July 1, 2027 900,000 917,091 — — EQT's 3.90% notes due October 1, 2027 1,169,503 1,166,252 1,169,503 1,165,439 EQT's 5.700% notes due April 1, 2028 500,000 492,074 500,000 490,376 EQM's 5.500% notes due July 15, 2028 850,000 846,328 — — EQT's 5.00% notes due January 15, 2029 318,494 315,619 318,494 315,121 EQM's 4.50% notes due January 15, 2029 800,000 764,360 — — EQM's 6.375% notes due April 1, 2029 600,000 609,177 — — EQT's 7.000% notes due February 1, 2030 (b) 674,800 671,486 674,800 671,020 EQM's 7.500% notes due June 1, 2030 500,000 537,317 — — EQM's 4.75% notes due January 15, 2031 1,100,000 1,042,951 — — EQT's 3.625% notes due May 15, 2031 435,165 430,649 435,165 430,141 EQT's 5.750% notes due February 1, 2034 750,000 742,598 — — EQM's 6.500% notes due July 15, 2048 550,000 557,655 — — EQT's note payable to EQM (d) — — 88,483 88,483 Total debt 13,852,877 13,793,548 5,836,058 5,795,113 Less: Current portion of debt (e) 400,000 400,150 296,424 292,432 Long-term debt $ 13,452,877 $ 13,393,398 $ 5,539,634 $ 5,502,681 (a) For EQT's revolving credit facility, Eureka's revolving credit facility and, as of December 31, 2023, EQT's note payable to EQM, the principal value represents the carrying value. For all other debt, the principal value less the unamortized debt issuance costs and debt discounts and, for EQM's senior notes, the unamortized fair value adjustments recorded with Equitrans Midstream Merger purchase price accounting represents the carrying value. (b) Interest rates for the Term Loan Facility and EQT's 7.000% senior notes fluctuate based on changes to the credit ratings assigned to EQT's senior notes by Moody's, S&P and Fitch. Prior to EQT's redemption of all of its outstanding 6.125% senior notes, interest rates for EQT's 6.125% senior notes fluctuated based on changes to the credit ratings assigned to EQT's senior notes by Moody's, S&P and Fitch. Interest rates for the Company's other outstanding debt do not fluctuate. (c) As of December 31, 2023, the fair value of EQT's 1.75% convertible notes was $768.6 million and was a Level 2 fair value measurement. See Note 5. (d) As a result of the Equitrans Midstream Merger, EQT's note payable to EQM has been eliminated in consolidation. (e) As of September 30, 2024, the current portion of debt included EQM's 6.000% senior notes. As of December 31, 2023, the current portion of debt included EQT's 1.75% convertible notes and a portion of EQT's note payable to EQM. Debt Repayments . The Company repaid, redeemed or repurchased the following debt during the nine months ended September 30, 2024. Debt Tranche Principal Premiums Accrued but Unpaid Interest Total Cost (Thousands) EQM's 4.00% notes due August 1, 2024 (a) $ 300,000 $ — $ 6,000 $ 306,000 EQT's 6.125% notes due February 1, 2025 601,521 1,178 13,612 616,311 Term Loan Facility due June 30, 2026 750,000 — 332 750,332 EQT's 1.75% convertible notes due May 1, 2026 583 — — 583 Total $ 1,652,104 $ 1,178 $ 19,944 $ 1,673,226 (a) EQM's 4.00% senior notes, which were consolidated by the Company as a result of the Equitrans Midstream Merger, were redeemed at maturity. EQT's Revolving Credit Facility. EQT has a $3.5 billion revolving credit facility. On July 22, 2024, EQT entered into a Fourth Amended and Restated Credit Agreement (the Fourth A&R Credit Agreement) with PNC Bank National Association, as administrative agent, swing line lender and L/C issuer, and the other lenders party thereto, amending and restating the Third Amended and Restated Credit Agreement, dated June 28, 2022 (the Credit Agreement), under which such lenders agreed to make to EQT unsecured revolving loans in an aggregate principal amount of up to $3.5 billion. The Fourth A&R Credit Agreement, among other things, (i) extends the maturity date of the commitments and loans under the Credit Agreement to July 23, 2029 and provides, at EQT's option, two one-year extensions thereafter, subject to satisfaction of certain conditions, and (ii) allows for additional commitment increases up to $1 billion, subject to the agreement of EQT and new or existing lenders. EQT can obtain Base Rate Loans (as defined in the Fourth A&R Credit Agreement) or Term SOFR Rate Loans (as defined in the Fourth A&R Credit Agreement). Base Rate Loans are denominated in dollars and bear interest at a Base Rate (as defined in the Fourth A&R Credit Agreement) plus a margin ranging from 12.5 basis points to 100 basis points determined on the basis of EQT's credit ratings. Term SOFR Rate Loans bear interest at a Term SOFR Rate (as defined in the Fourth A&R Credit Agreement) plus an additional 10 basis point credit spread adjustment plus a margin ranging from 112.5 basis points to 200 basis points determined on the basis of EQT's credit ratings. As of September 30, 2024, the Company had approximately $1 million of letters of credit outstanding under EQT's revolving credit facility and no letters of credit outstanding under Eureka's revolving credit facility. As of December 31, 2023, the Company had approximately $15 million of letters of credit outstanding under EQT's revolving credit facility. During the three months ended September 30, 2024 and 2023, under EQT's revolving credit facility, the maximum amount of outstanding borrowings was $2,301 million and $158 million, respectively, and the average daily balance was approximately $1,608 million and $28 million, respectively. During the nine months ended September 30, 2024 and 2023, under EQT's revolving credit facility, the maximum amount of outstanding borrowings was $2,301 million and $158 million, respectively, and the average daily balance was approximately $551 million and $9 million, respectively. For each of the three and nine month periods ended September 30, 2024 and 2023, interest under EQT's revolving credit facility was incurred at a weighted average annual interest rate of 6.9%. Eureka's Revolving Credit Facility. Upon the closing of the Equitrans Midstream Merger, the Company acquired a controlling interest in Eureka Midstream Holdings. See Notes 1 and 12. Eureka, a wholly-owned subsidiary of Eureka Midstream Holdings, has a $400 million senior secured revolving credit facility with Sumitomo Mitsui Banking Corporation, as administrative agent, the lenders party thereto from time to time and any other persons party thereto from time to time. For the period beginning on July 22, 2024 and ending on September 30, 2024, under Eureka's revolving credit facility, both the maximum amount of outstanding borrowings and average daily balance was $330 million, and interest was incurred at a weighted average annual interest rate of 8.1%. Eureka's revolving credit facility contains negative covenants that, among other things, limit restricted payments, incurrence of debt, dispositions, mergers and other fundamental changes and transactions with affiliates, in each case and as applicable, subject to certain specified exceptions. In addition, Eureka's revolving credit facility contains certain specified events of default, including insolvency, nonpayment of scheduled principal or interest obligations, loss and failure to replace certain material contracts, change of control and cross-default provisions related to the acceleration or default of certain other financial obligations. EQM's revolving credit facility. Immediately following the closing of the Equitrans Midstream Merger, on July 22, 2024, EQM repaid outstanding obligations under that certain Third Amended and Restated Credit Agreement, dated October 31, 2018, by and among EQM, Wells Fargo Bank, National Association, as administrative agent, swing line lender and L/C issuer, and the other financial institutions from time to time party thereto for principal of $705 million and interest and fees of $4.5 million using cash on hand and cash contributions from EQT funded by borrowings under EQT's revolving credit facility, and, thereafter, EQM terminated its revolving credit facility. Term Loan Facility . On November 9, 2022, EQT entered into a Credit Agreement (as amended on December 23, 2022, April 25, 2023, January 16, 2024 and July 22, 2024, the Term Loan Agreement) with PNC Bank, National Association, as administrative agent, and the other lenders party thereto, under which such lenders agreed to make to EQT unsecured term loans in a single draw in an aggregate principal amount of up to $1.25 billion (the Term Loan Facility) to partly fund the Tug Hill and XcL Midstream Acquisition. On August 21, 2023, EQT borrowed $1.25 billion under the Term Loan Facility, receiving net proceeds of $1,242.9 million. On January 16, 2024, EQT entered into a third amendment to the Term Loan Agreement to, among other things, extend the maturity date of the Term Loan Agreement from June 30, 2025 to June 30, 2026. The third amendment to the Term Loan Agreement became effective on January 19, 2024 upon EQT's prepayment of $750 million principal amount of the term loans outstanding under the Term Loan Facility (funded with the net proceeds from the issuance of EQT's 5.750% senior notes and cash on hand) and the satisfaction of other closing conditions. On July 22, 2024, EQT entered into a fourth amendment to the Term Loan Agreement to, among other things, make certain conforming changes to the Term Loan Agreement in alignment with the Fourth A&R Credit Agreement. Pursuant to the Term Loan Agreement, EQT may voluntarily prepay, in whole or in part, borrowings under the Term Loan Facility without premium or penalty but subject to reimbursement of funding losses with respect to prepayment of loans that bear interest based on the Term SOFR Rate (as defined in the Term Loan Agreement). Borrowings under the Term Loan Facility that are repaid may not be re-borrowed. At EQT's election, the term loans outstanding under the Term Loan Facility bear interest at a Term SOFR Rate plus the SOFR Adjustment or Base Rate (both terms defined in the Term Loan Agreement), each plus a margin based on EQT's credit ratings. For both the three and nine months ended September 30, 2024, interest under the Term Loan Facility was incurred at a weighted average annual interest rate of 6.9%. For the period beginning on August 21, 2023 and ending on September 30, 2023, interest under the Term Loan Facility was incurred at a weighted average annual interest rate of 7.0%. EQM's Senior Notes. Upon the closing of the Equitrans Midstream Merger, EQM became an indirect wholly-owned subsidiary of EQT, and EQM's outstanding senior notes were consolidated by the Company. The indentures governing EQM's senior notes contain certain restrictive financial and operating covenants, including covenants that restrict, among other things, EQM's ability to incur, as applicable, indebtedness, incur liens, enter into sale and leaseback transactions, complete acquisitions, merge, sell assets and perform certain other corporate actions. Certain of EQM's senior notes also include an offer to repurchase provision applicable upon the occurrence of certain change of control events specified in the applicable indentures. As of September 30, 2024, aggregate maturities for EQM's senior notes are zero for the three months ended December 31, 2024, $400 million in 2025, $500 million in 2026, $1,400 million in 2027, $850 million in 2028, $1,400 million in 2029 and $2,150 million thereafter. EQT's 5.750% Senior Notes. On January 19, 2024, EQT issued $750 million aggregate principal amount of 5.750% senior notes due February 1, 2034. The Company used net proceeds of $742.0 million, composed of the principal amount of $750 million net of capitalized debt issuance costs and underwriters' discount of $8.0 million, and cash on hand to prepay $750 million principal amount of the term loans outstanding under the Term Loan Facility. The covenants of the 5.750% senior notes are consistent with EQT's existing senior unsecured notes. EQT's 1.75% Convertible Notes . In April 2020, EQT issued $500 million aggregate principal amount of 1.75% convertible senior notes (the Convertible Notes). The effective interest rate for the Convertible Notes was 2.4%. On January 2, 2024, in accordance with the indenture governing the Convertible Notes (the Convertible Notes Indenture), EQT issued an irrevocable notice of redemption for all of the outstanding Convertible Notes and announced that EQT would redeem any of the Convertible Notes outstanding on January 17, 2024 in cash for 100% of the principal amount, plus accrued and unpaid interest on such Convertible Notes to, but excluding, such redemption date (the Redemption Price). Pursuant to the Convertible Notes Indenture, between January 2, 2024 and the conversion deadline of 5:00 p.m., New York City time, on January 12, 2024, certain holders of the Convertible Notes exercised their right to convert their Convertible Notes prior to the redemption and validly surrendered an aggregate principal amount of $289.6 million of Convertible Notes. Based on a conversion rate of 69.0364 shares of EQT common stock per $1,000 principal amount of Convertible Notes, EQT issued to such holders an aggregate 19,992,482 shares of EQT common stock. Settlement of such Convertible Note conversion right exercises net of unamortized deferred issuance costs increased shareholder's equity by $285.6 million. The remaining $0.6 million in outstanding principal amount of Convertible Notes was redeemed on January 17, 2024 in cash for the Redemption Price. Inclusive of January 2024 settlements of Convertible Notes conversion right exercises that were exercised in December 2023, during January 2024, EQT settled $290.2 million aggregate principal amount of Convertible Notes conversion right exercises by issuing an aggregate 20,036,639 shares of EQT common stock to the converting holders at an average conversion price of $38.03. Settlement and Termination of Capped Call Transactions. In connection with, but separate from, the issuance of the Convertible Notes, in 2020, EQT entered into capped call transactions (the Capped Call Transactions) with certain financial institutions (the Capped Call Counterparties) to reduce the potential dilution to EQT common stock upon any conversion of Convertible Notes at maturity and/or offset any cash payments that the Company is required to make in excess of the principal amount of such converted notes. The Capped Call Transactions had an initial strike price of $15.00 per share of EQT common stock and an initial cap price of $18.75 per share of EQT common stock, each of which were subject to certain customary adjustments, including adjustments as a result of EQT paying dividends on its common stock, and were set to expire in April 2026. The Company recorded the cost to purchase the Capped Call Transactions of $32.5 million as a reduction to shareholders' equity. On January 18, 2024, EQT entered into separate termination agreements with each of the Capped Call Counterparties, pursuant to which the Capped Call Counterparties paid EQT an aggregate $93.3 million (the Termination Payments), and the Capped Call Transactions were terminated. EQT received the Termination Payments on January 22, 2024. The Termination Payments were recorded as an increase to shareholders' equity.

Investment in the MVP Joint Ven

Investment in the MVP Joint Venture	9 Months Ended
Investment in the MVP Joint Venture	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investment in the MVP Joint Venture	Investment in the MVP Joint Venture The MVP Joint Venture. Upon the closing of the Equitrans Midstream Merger, the Company acquired an equity method investment in the MVP Joint Venture. The MVP. The Company owned a 49.2% interest in the MVP as of September 30, 2024 and is the operator of the MVP. The MVP is a 303-mile long, 42-inch diameter natural gas interstate pipeline with a targeted capacity of 2.0 Bcf per day that spans from the Company's transmission and storage system in Wetzel County, West Virginia to Pittsylvania County, Virginia. Following receipt of authorization from the Federal Energy Regulatory Commission (the FERC), the MVP entered into service on June 14, 2024 and became available for interruptible or short-term firm transportation service. On July 1, 2024, the MVP commenced long-term firm capacity obligations. Estimated total project cost of the MVP is approximately $8.1 billion, excluding allowance for funds used during construction. As of September 30, 2024, the Company had a negative basis difference between the carrying value of its equity method investment and its proportionate share of the MVP's net assets, which are composed of fixed assets. The basis difference is accreted over the life of the fixed assets and presented in income from investments in the Company's Statements of Condensed Consolidated Operations. In September 2024, the MVP Joint Venture issued a capital call notice for the funding of the MVP project to the Company for $15.2 million, which was paid in October 2024. The capital contributions payable, which is presented in other current liabilities, and corresponding increase to the investment asset are included in the Condensed Consolidated Balance Sheet as of September 30, 2024. MVP Southgate. As of September 30, 2024, the Company owned a 47.2% interest in MVP Southgate. MVP Southgate is a contemplated interstate pipeline that was approved by the FERC and was initially designed to extend approximately 75 miles from the MVP in Pittsylvania County, Virginia to new delivery points in Rockingham and Alamance Counties, North Carolina using 24-inch and 16-inch diameter pipe. In December 2023, the MVP Joint Venture entered into precedent agreements with Public Service Company of North Carolina, Inc. and Duke Energy Carolinas, LLC. The precedent agreements contemplate an amended project and, among other things, describe certain conditions precedent to the parties' respective obligations regarding MVP Southgate. As amended, the natural gas interstate pipeline would extend approximately 31 miles from the terminus of the MVP in Pittsylvania County, Virginia to planned new delivery points in Rockingham County, North Carolina using 30-inch diameter pipe and have a targeted capacity of 550,000 dekatherms per day. Completion of the MVP Southgate pipeline is targeted for June 2028. The Company expects to operate the MVP Southgate pipeline. Pursuant to the MVP Joint Venture's limited liability company agreement and upon the closing of the Equitrans Midstream Merger, the Company is obligated to provide performance assurances with respect to MVP Southgate that may take the form of a guarantee from EQM (provided that, in accordance with the requirements of the MVP Joint Venture's limited liability company agreement, EQM's debt is assigned an investment grade credit rating), a letter of credit or cash collateral. Upon receipt of the FERC's initial release to begin construction of the MVP Southgate project, the Company will be obligated to provide performance assurance in an amount equal to 33% of its share of MVP Southgate's remaining capital commitments.

(Loss) Income Per Share

(Loss) Income Per Share	9 Months Ended
(Loss) Income Per Share	Sep. 30, 2024
Earnings Per Share [Abstract]
(Loss) Income Per Share	(Loss) Income Per Share The table below provides the computation for basic and diluted (loss) income per share. Three Months Ended Nine Months Ended 2024 2023 2024 2023 (Thousands, except per share amounts) Net (loss) income attributable to EQT Corporation – Basic (loss) income available to shareholders $ (300,823) $ 81,255 $ (187,818) $ 1,233,177 Add back: Interest expense on Convertible Notes, net of tax (a) — 2,042 — 6,117 Diluted (loss) income available to shareholders $ (300,823) $ 83,297 $ (187,818) $ 1,239,294 Weighted average common stock outstanding – Basic 559,603 383,359 480,354 368,936 Options, restricted stock, performance awards and stock appreciation rights (a) — 4,398 — 4,606 Convertible Notes (a) — 28,433 — 28,317 Weighted average common stock outstanding – Diluted 559,603 416,190 480,354 401,859 (Loss) income per share of common stock attributable to EQT Corporation: Basic $ (0.54) $ 0.21 $ (0.39) $ 3.34 Diluted $ (0.54) $ 0.20 $ (0.39) $ 3.08 (a) In periods when the Company reports a net loss, all options, restricted stock, performance awards and stock appreciation awards, as applicable, are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on loss per share. As a result, for the three and nine months ended September 30, 2024, all such securities of 7.6 million and 6.0 million, respectively, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share. In addition, prior to EQT's redemption of the Convertible Notes, the Company used the if-converted method to calculate the impact of the Convertible Notes on diluted (loss) income per share. For the nine months ended September 30, 2024, such if-converted securities of approximately 0.5 million as well as the related add back of interest expense on the Convertible Notes, net of tax, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.

Share-based Compensation

Share-based Compensation	9 Months Ended
Share-based Compensation	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation In 2024, the Management Development and Compensation Committee of the Company's Board of Directors (the Compensation Committee) adopted the 2024 Incentive Performance Share Unit Program (2024 Incentive PSU Program) under the 2020 Long-Term Incentive Plan. During the nine months ended September 30, 2024, a total of 371,500 share units were granted under the 2024 Incentive PSU Program. The payout of the share units will vary between zero and 200% of the number of outstanding units contingent upon the Company's absolute total shareholder return and total shareholder return relative to a predefined peer group over the period of January 1, 2024 through December 31, 2026. During the nine months ended September 30, 2024, the Compensation Committee granted 995,620 restricted stock unit equity awards that follow a three-year graded vesting schedule commencing with the date of grant, assuming continued employment through each vesting date. The share total includes the Company's "equity-for-all" program, instituted in 2021, pursuant to which the Company grants equity awards to all permanent employees. In conjunction with the Equitrans Midstream Merger, the Company assumed all outstanding and unvested share-based compensation awards of Equitrans Midstream Corporation (Equitrans Midstream) and converted those assumed awards into 5,175,814 restricted stock unit equity awards that maintained the assumed awards' prior vesting schedules, assuming continued employment through each vesting date.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
Acquisitions and Divestitures	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Tug Hill and XcL Midstream Acquisition. On August 22, 2023, the Company completed its acquisition (the Tug Hill and XcL Midstream Acquisition) of the upstream assets from THQ Appalachia I, LLC and the gathering and processing assets from THQ-XcL Holdings I, LLC through the acquisition of all of the issued and outstanding membership interests of each of THQ Appalachia I Midco, LLC and THQ-XcL Holdings I Midco, LLC. The purchase price for the Tug Hill and XcL Midstream Acquisition consisted of 49,599,796 shares of EQT common stock and approximately $2.4 billion in cash, subject to customary post-closing adjustments. The Company accounted for the Tug Hill and XcL Midstream Acquisition as a business combination using the acquisition method. The Company completed the purchase price allocation for the Tug Hill and XcL Midstream Acquisition during the first quarter of 2024. The purchase accounting adjustments recorded in 2024 were not material. NEPA Gathering System Acquisition. The Company operates and has historically owned a 50% interest in gathering assets located in Northeast Pennsylvania (collectively, the NEPA Gathering System). On April 11, 2024, the Company completed its acquisition of a minority equity partner's 33.75% interest in the NEPA Gathering System for a purchase price of approximately $205 million (the NEPA Gathering System Acquisition), subject to customary post-closing adjustments. The NEPA Gathering System Acquisition was accounted for as an asset acquisition and, as such, its purchase price was allocated to property, plant and equipment. NEPA Non-Operated Asset Divestiture. On May 31, 2024, the Company completed the divestiture (the NEPA Non-Operated Asset Divestiture) of an undivided 40% interest in the Company's non-operated natural gas assets in Northeast Pennsylvania with a carrying amount of approximately $522 million to Equinor USA Onshore Properties Inc. and its affiliates (collectively, the Equinor Parties). The carrying value was composed of approximately $549 million of property, plant and equipment, approximately $7 million of other current liabilities and approximately $20 million of other liabilities and credits. In exchange, as consideration, the Company received from the Equinor Parties cash of $500 million, subject to customary post-closing purchase price adjustments, certain upstream assets and the remaining 16.25% equity interest in the NEPA Gathering System. The total fair value of consideration received, net of liabilities assumed, was approximately $842 million, subject to customary post-closing purchase price adjustments, and included $413 million of property, plant and equipment. As a result of the NEPA Non-Operated Asset Divestiture, for the nine months ended September 30, 2024, the Company recognized a gain of approximately $312 million in loss (gain) on sale/exchange of long-lived assets in the Statements of Condensed Consolidated Operations, inclusive of an $8 million loss recognized for the three months ended September 30, 2024. The gain was calculated as the carrying value of divested assets less the fair value of consideration received, net of liabilities assumed and divestiture costs incurred of approximately $8 million. Cash proceeds from the NEPA Non-Operated Asset Divestiture were used to partly fund EQT's redemption of its 6.125% senior notes. The fair values of the natural gas properties received as consideration for the NEPA Non-Operated Asset Divestiture were measured using discounted cash flow valuation techniques based on inputs that are not observable in the market and, as such, is a Level 3 fair value measurement. Significant inputs include future commodity prices, projections of estimated quantities of reserves, estimated future rates of production, projected reserve recovery factors, timing and amount of future development and operating costs and a weighted average cost of capital. The fair value of the undeveloped properties received as consideration for the NEPA Non-Operated Asset Divestiture were measured using the guideline transaction method based on inputs that are not observable in the market and, as such, is a Level 3 fair value measurement. Significant inputs include future development plans from a market participant perspective. The fair value of the interest in the NEPA Gathering System received as consideration for the NEPA Non-Operated Asset Divestiture was measured using the cost approach based on inputs that are not observable in the market and, as such, is a Level 3 fair value measurement. Significant inputs include replacement cost for similar assets, relative age of the assets and potential economic or functional obsolescence. See Note 5 for a description of the fair value hierarchy. In addition, subsequent to the completion of the NEPA Non-Operated Asset Divestiture, the Company and the Equinor Parties entered into a gas buy-back agreement with respect to the assets received by the Company as consideration for the NEPA Non-Operated Asset Divestiture, whereby the Equinor Parties agreed to purchase a specified amount of natural gas from the Company through the first quarter of 2028. Remaining NEPA Non-Operated Assets Divestiture. On October 29, 2024, the Company entered into an agreement with the Equinor Parties, pursuant to which the Company agreed to sell to the Equinor Parties the Company's remaining, undivided 60% interest in the Company's non-operated natural gas assets in Northeast Pennsylvania. In exchange, the Company will receive from the Equinor Parties $1.25 billion of cash (the Remaining NEPA Non-Operated Assets Divestiture). The Company intends to use the proceeds from the Remaining NEPA Non-Operated Assets Divestiture for repayment of the Company's debt. The Remaining NEPA Non-Operated Assets Divestiture is subject to customary closing adjustments, required regulatory approvals and clearances.

Equitrans Midstream Merger

Equitrans Midstream Merger	9 Months Ended
Equitrans Midstream Merger	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Equitrans Midstream Merger	Equitrans Midstream Merger On July 22, 2024, the Company completed the Equitrans Midstream Merger pursuant to the agreement and plan of merger dated March 10, 2024 (the Merger Agreement), by and among EQT, Humpty Merger Sub Inc., an indirect wholly-owned subsidiary of EQT (Merger Sub), Humpty Merger Sub LLC, an indirect wholly-owned subsidiary of EQT (LLC Sub), and Equitrans Midstream. Upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub merged with and into Equitrans Midstream (the First Merger), with Equitrans Midstream surviving as an indirect wholly-owned subsidiary of EQT (the First Step Surviving Corporation), and, as the second step in a single integrated transaction with the First Merger, the First Step Surviving Corporation merged with and into LLC Sub (the Second Merger and, together with the First Merger, the Equitrans Midstream Merger), with LLC Sub surviving the Second Merger as an indirect wholly-owned subsidiary of EQT. Upon the closing of the Equitrans Midstream Merger, each share of common stock, no par value, of Equitrans Midstream (Equitrans Midstream common stock) that was issued and outstanding immediately prior to the effective time of the First Merger (other than shares of Equitrans Midstream common stock owned by Equitrans Midstream or its subsidiaries or by the Company) was converted into the right to receive, without interest, 0.3504 shares of EQT common stock, which totaled 152,427,848 shares of EQT common stock with an aggregate value of $5.5 billion, based on an EQT common stock share price of $35.88. In addition, in connection with the closing of the Equitrans Midstream Merger, the Company paid an aggregate of $79.5 million of equity consideration to employees of Equitrans Midstream who did not continue with the Company following the Equitrans Midstream Merger closing date. Immediately prior to the completion of the Equitrans Midstream Merger, on July 22, 2024, using borrowings under EQT's revolving credit facility, the Company paid $685.3 million to effect the purchase and redemption of all of the issued and outstanding Series A Perpetual Convertible Preferred Shares, no par value, of Equitrans Midstream (the Equitrans Midstream preferred stock). Immediately following the closing of the Equitrans Midstream Merger, on July 22, 2024, EQM repaid all of its outstanding obligations under EQM's revolving credit facility using cash on hand and cash contributions from EQT, and, thereafter, EQM terminated its revolving credit facility. See Note 7. Upon completion of the Equitrans Midstream Merger, the pre-existing contractual relationships between the Company, as producer, and Equitrans Midstream, as gathering and transmission services provider, are treated as intercompany transactions on a consolidated basis and, as such, were effectively settled on July 22, 2024. Likewise, upon completion of the Equitrans Midstream Merger, EQT's note payable to EQM became an intercompany transaction on a consolidated basis and, as such, was effectively settled on July 22, 2024. For the three and nine months ended September 30, 2024, the Company recognized $274.6 million and $298.7 million, respectively, of transaction costs related to the Equitrans Midstream Merger within other operating expenses in the Statements of Condensed Consolidated Operations. Allocation of Purchase Price . The Equitrans Midstream Merger was accounted for as a business combination using the acquisition method. The table below summarizes the preliminary purchase price and estimated fair values of assets acquired and liabilities assumed as of July 22, 2024 with the excess of purchase price over estimated fair value of the identified net assets recognized as goodwill. Certain information necessary to complete the purchase price allocation is not yet available, including, but not limited to, final appraisals of assets acquired and liabilities assumed and final income tax computations. The Company expects to complete the purchase price allocation once it has received all necessary information, at which time the value of the assets acquired and liabilities assumed will be revised if necessary. Preliminary Purchase Price Allocation (Thousands) Consideration: Equity $ 5,548,608 Cash (paid in lieu of fractional shares) 29 Redemption of Equitrans Midstream preferred stock 685,337 Settlement of pre-existing relationships (237,662) Total consideration $ 5,996,312 Fair value of assets acquired: Cash and cash equivalents $ 58,767 Accounts receivable, net 85,308 Income tax receivable 2,192 Prepaid expenses and other 22,048 Property, plant and equipment 9,387,823 Investment in the MVP Joint Venture 3,222,311 Net intangible assets 250,000 Other assets 240,248 Noncontrolling interest in consolidated subsidiaries (144,894) Amount attributable to assets acquired $ 13,123,803 Fair value of liabilities assumed: Current portion of debt $ 699,837 Accounts payable 65,761 Accrued interest 47,996 Other current liabilities 76,563 Revolving credit facility borrowings 1,035,000 Senior notes 6,273,941 Deferred income taxes 961,894 Other liabilities and credits 144,735 Amount attributable to liabilities assumed $ 9,305,727 Goodwill $ 2,178,236 The fair value of Equitrans Midstream's property, plant and equipment, which primarily includes gathering systems, transmission and storage systems and water infrastructure assets, and Equitrans Midstream's equity method investment in the MVP Joint Venture was measured using a combination of a cost and income approach based on inputs that are not observable in the market and, as such, are Level 3 fair value measurements. Significant inputs to the valuation of Equitrans Midstream's property, plant and equipment and investment in the MVP Joint Venture include replacement costs for similar assets, relative age of the assets, any potential economic or functional obsolescence associated with the assets, future revenue estimates and future operating cost assumptions and estimated weighted average costs of capital. The fair value of the noncontrolling interest in Eureka Midstream Holdings was calculated using the noncontrolling interest ownership percentage and the enterprise value of Eureka Midstream Holdings, which was measured using a combination of a cost and income approach based on inputs that are not observable in the market and, as such, is a Level 3 fair value measurement. Significant inputs to the valuation of the noncontrolling interest in Eureka Midstream Holdings include replacement costs for similar assets, relative age of the assets, any potential economic or functional obsolescence associated with the assets, future revenue estimates, future operating cost assumptions and estimated weighted average cost of capital. As part of the preliminary purchase price allocation, the Company identified intangible assets related to certain of Equitrans Midstream's transmission services contracts. The fair value of the identified intangible assets was determined using the income approach based on inputs that are not observable in the market and, as such, is a Level 3 fair value measurement. Significant inputs to the valuation of the identified intangible assets include future revenue estimates, future cost assumptions, estimated contract renewals, a discount rate assumption and an estimated required rate of return on the assets. The identified intangible assets are amortized over their useful life of 15 years on a straight-line basis, which reflects the pattern in which the Company expects to consume the economic benefits of the assets. The fair value of EQM's senior notes was measured using established fair value methodology. Because not all of EQM's senior notes are actively traded, their fair value is a Level 2 fair value measurement. The difference between the fair value and principal amount of the assumed senior notes is amortized over the remaining life of the debt. The unamortized amount is presented as a reduction of debt in the Condensed Consolidated Balance Sheet. Because the carrying value of borrowings under EQM's revolving credit facility and Eureka's revolving credit facility approximated their respective fair value (as each facility's interest rate is based on prevailing market rates), the Company considers their fair values to be Level 1 fair value measurements. Goodwill is attributable to the Company's qualitative assumptions of long-term value that the Equitrans Midstream Merger creates for EQT shareholders. Of the total goodwill, the Company attributed $1.3 billion to synergies expected from the vertical integration of the business, including from the elimination of contracted transportation and processing costs with Equitrans Midstream as the Company is unable to recognize intangible assets related to its significant long-term customer contracts with Equitrans Midstream as such contracts became intercompany transactions upon the closing of the Equitrans Midstream Merger. In addition, the Company attributed $0.9 billion of total goodwill to additional deferred tax liabilities that arose from the differences between the preliminary purchase price allocation based on fair value and tax basis that carried over from Equitrans Midstream to the Company. The Company allocated all of the goodwill from the Equitrans Midstream Merger to the Company's Transmission segment. Differences between the preliminary purchase price allocation and the final purchase price allocation may change the amount of goodwill recognized. In conjunction with the Equitrans Midstream Merger, as of the Equitrans Midstream Merger closing date, the Company had unamortized carryover tax basis of $647.2 million of tax deductible goodwill. See Note 5 for a description of the fair value hierarchy. Post-Acquisition Operating Results . The table below summarizes amounts contributed by the assets acquired in the Equitrans Midstream Merger, inclusive of intercompany eliminations, to the Company's consolidated results for the period beginning on July 22, 2024 and ending on September 30, 2024. July 22, 2024 through September 30, 2024 (Thousands) Loss on derivatives $ (5,673) Pipeline, net marketing services and other 110,403 Total operating revenues $ 104,730 Net loss $ (159,313) Less: Net income attributable to noncontrolling interests 3,687 Net loss attributable to EQT Corporation $ (163,000) Unaudited Pro Forma Information . The table below summarizes the Company's results as though the Equitrans Midstream Merger had been completed on January 1, 2023. Certain historical amounts were reclassified to conform to the Company's current financial presentation of operations. Such unaudited pro forma information is provided for informational purposes only and does not represent what consolidated results of operations would have been had the Equitrans Midstream Merger occurred on January 1, 2023 nor are they indicative of future consolidated results of operations. Nine Months Ended 2024 2023 (Thousands, except per share amounts) Pro forma operating revenues: Pro forma sales of natural gas, NGLs and oil $ 3,293,174 $ 3,680,566 Pro forma gain on derivatives 201,228 1,221,557 Pro forma pipeline, net marketing services and other 454,136 456,082 Pro forma total operating revenues $ 3,948,538 $ 5,358,205 Pro forma net income $ 19,543 $ 1,677,891 Less: Pro forma net income attributable to noncontrolling interests 17,696 21,891 Pro forma net income attributable to EQT Corporation $ 1,847 $ 1,656,000 Pro forma income per share of common stock attributable to EQT Corporation: Pro forma net income attributable to EQT Corporation – Basic $ 0.00 $ 4.49 Pro forma net income attributable to EQT Corporation – Diluted $ 0.00 $ 4.14

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Obligations The following table summarizes the Company's commitments to pay demand charges under long-term contracts and binding precedent agreements with various pipelines and charges for processing capacity. The table presents the year or years in which such commitments are to be paid as of September 30, 2024 and December 31, 2023. As of September 30, 2024 As of December 31, 2023 (Billions) 2024 (a) $ 0.2 $ 1.8 2025 0.8 1.8 2026 0.7 1.7 2027 0.7 1.7 2028 0.6 1.4 Thereafter 4.2 13.6 Total $ 7.2 $ 22.0 (a) As of September 30, 2024, the noted amount represented commitments payable for the three months ended December 31, 2024; as of December 31, 2023, the noted amount represented commitments payable for the year ended December 31, 2024. The following table summarizes the Company's commitments to pay for services related to its operations, including electric hydraulic fracturing services, and purchase equipment, materials and sand. The table presents the year or years in which such commitments are to be paid as of September 30, 2024 and December 31, 2023. As of September 30, 2024 As of December 31, 2023 (Millions) 2024 (a) $ 60.7 $ 228.8 2025 194.6 164.5 2026 148.4 138.0 2027 88.2 111.0 2028 37.9 72.9 Thereafter — 107.9 Total $ 529.8 $ 823.1 (a) As of September 30, 2024, the noted amount represented commitments payable for the three months ended December 31, 2024; as of December 31, 2023, the noted amount represented commitments payable for the year ended December 31, 2024. Legal and Regulatory Proceedings In the ordinary course of business, various legal and regulatory claims and proceedings are pending or threatened against the Company. While the amounts claimed may be substantial, the Company is unable to predict with certainty the ultimate outcome of such claims and proceedings. The Company evaluates its legal proceedings, including litigation and regulatory and governmental investigations and inquiries, on a regular basis and accrues a loss for such matters when the Company believes that it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. In such cases, if some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued; however, when no amount within the range is a better estimate than any other amount, the minimum amount in the range is accrued. Any such accruals are adjusted thereafter as appropriate to reflect changed circumstances. In the event the Company determines that (i) it is probable a liability has been incurred but the amount of the loss cannot be reasonably estimated, or (ii) it less likely than probable but is reasonably possible that a liability has been incurred, then the Company is required to disclose the matter in its Annual Report on Form 10-K with any update thereto in this Quarterly Report on Form 10-Q, as applicable, although the Company is not required to accrue such loss. When able, the Company determines an estimate of reasonably possible losses or ranges of reasonably possible losses, whether in excess of any related accrued loss or where there is no accrued loss, for legal proceedings. In instances where such estimates can be made, any such estimates are based on the Company's analysis of currently available information and are subject to significant judgment and a variety of assumptions and uncertainties and may change as new information is obtained. The ultimate outcome of the matters described below is inherently uncertain. Furthermore, due to the inherent subjectivity of the assessments and unpredictability of outcomes of legal proceedings, any amounts accrued or estimated as possible losses may not represent the ultimate loss to the Company from the legal proceedings in question and the Company's exposure and ultimate losses may be higher, and possibly significantly so, than the amounts accrued or estimated. Securities Class Action Litigation . On December 6, 2019, an amended putative class action complaint was filed in the United States District Court for the Western District of Pennsylvania by Cambridge Retirement System, Government of Guam Retirement Fund, Northeast Carpenters Annuity Fund, and Northeast Carpenters Pension Fund, on behalf of themselves and all those similarly situated, against EQT, and certain former executives and current and former board members of EQT (the Securities Class Action). The complaint alleges that certain statements made by EQT regarding its merger with Rice Energy Inc. in 2017 were materially false and violated various federal securities laws. Pursuant to the complaint, the plaintiffs seek compensatory or rescissory damages in an unspecified amount for all damages allegedly sustained by the class as a result of alleged negative impacts to EQT's stock price in 2018 and 2019. Additionally, following the filing of the Securities Class Action complaint, several other lawsuits were filed in the United States District Court for the Western District of Pennsylvania and the Court of Common Pleas of Allegheny County, Pennsylvania by certain shareholders of EQT against EQT and certain former executives and current and former board members of EQT asserting substantially the same allegations as those raised in the Securities Class Action. These matters are currently pending, the majority of which have been stayed pending a ruling on dispositive motions in the Securities Class Action. Following the commencement of the Securities Class Action, the parties engaged in fact and expert discovery. In June 2024, the discovery phase of the Securities Class Action was completed. On June 27, 2024, the parties to the Securities Class Action participated in a mediation (the Mediation), which did not result in resolution. A trial date for the Securities Class Action has not been determined. In the second quarter of 2024, the Company recorded an accrual for estimated loss contingencies associated with the Securities Class Action in an amount equal to the settlement offer the Company tendered at the Mediation. Due to the inherent subjectivity of the assessments and unpredictability of outcomes of legal proceedings, the amount accrued for estimated losses associated with the Securities Class Action may not represent the ultimate loss to the Company, and the Company's exposure and ultimate losses may be higher, and possibly significantly so, than the amounts accrued or estimated. The amount accrued for such estimated losses is based on the Company's analysis of currently available information and is subject to significant judgment and a variety of assumptions and uncertainties and may change as new information is obtained. While the parties have completed discovery, various motions, including dispositive motions, have not yet been decided, the matters present meaningful legal uncertainties, and predicting the outcome depends on making assumptions about future decisions of courts and the behavior of other parties for which the Company does not currently have sufficient information. Given these uncertainties, the Company is unable at this time to reasonably estimate the range of possible additional losses above the amount accrued. The Company disputes the claims asserted in the Securities Class Action and related litigation and believes it has meritorious defenses, but unpredictability is inherent in litigation and the Company cannot predict the outcomes with any certainty. See Note 11 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 for additional discussion of the Company's commitments and contingencies, including certain other pending legal and regulatory proceedings and other contingent matters. As of September 30, 2024, except as disclosed herein, there have been no material changes to such matters disclosed therein.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (300,823)	$ 81,255	$ (187,818)	$ 1,233,177

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Financial Statements (Policies)

Financial Statements (Policies)	9 Months Ended
Financial Statements (Policies)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for interim financial information and with the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and notes required by GAAP for complete financial statements. In the opinion of management, these statements include all adjustments (consisting of only normal recurring accruals unless otherwise disclosed in this Quarterly Report on Form 10-Q) necessary for a fair presentation of the financial position of the Company as of September 30, 2024 and December 31, 2023, the results of its operations and equity for the three and nine month periods ended September 30, 2024 and 2023 and its cash flows for the nine month periods ended September 30, 2024 and 2023. Certain previously reported amounts have been reclassified to conform to the current period presentation. In addition, as discussed further in Note 2, certain prior period amounts have been recast to reflect the Company's change in reportable segments from one reportable segment to three reportable segments consisting of Production, Gathering and Transmission.
Principles of Consolidation	Principles of Consolidation. The Condensed Consolidated Financial Statements include the accounts of EQT and all subsidiaries, ventures and partnerships in which EQT directly or indirectly holds a controlling interest. Intercompany accounts and transactions have been eliminated in consolidation.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through the requirement of enhanced disclosure of significant segment expenses. In addition, this ASU enhances interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss and provides new segment disclosure requirements for entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company does not expect adoption of ASU 2023-07 to have a material impact on its currently-presented financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes: Improvements to Income Tax Disclosures to improve its income tax disclosure requirements. Under this ASU, public business entities must annually (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. This ASU is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company does not expect adoption of ASU 2023-09 to have a material impact on its financial statements and related disclosures.

Financial Statements (Tables)

Financial Statements (Tables)	9 Months Ended
Financial Statements (Tables)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table summarizes net cash paid for interest and income taxes and non-cash activity included in the Statements of Condensed Consolidated Cash Flows. Nine Months Ended September 30, 2024 2023 (Thousands) Cash paid during the period for: Interest, net of amount capitalized $ 196,632 $ 145,787 Income taxes, net 4,850 13,441 Non-cash activity during the period for: Equity issued as consideration for acquisition (Notes 12 and 11) $ 5,548,608 $ 2,152,631 Issuance of EQT common stock for Convertible Notes settlement (Note 7) 285,608 98 NEPA Non-Operated Asset Divestiture (Note 11) 155,241 — Increase in right-of-use assets and lease liabilities, net 11,501 25,849 Increase in asset retirement costs and obligations 7,947 5,216 Capitalization of non-cash equity share-based compensation 5,273 4,587 Investments in nonconsolidated entities 17,598 — Dissolution of consolidated variable interest entity — 25,227

Financial Information by Busi_2

Financial Information by Business Segment (Tables)	9 Months Ended
Financial Information by Business Segment (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule Of Financial Information By Business Segment and Capital Expenditures	Profit and loss metric with reconciliation to net (loss) income attributable to EQT Corporation for the three months ended September 30, 2024 Production Gathering Transmission Other and intersegment eliminations EQT Corporation (Thousands) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 1,099,752 $ — $ — $ — $ 1,099,752 Gain (loss) on derivatives 72,489 (5,673) — — 66,816 Pipeline, net marketing services and other 5,826 276,829 87,384 (252,805) 117,234 Total operating revenues 1,178,067 271,156 87,384 (252,805) 1,283,802 Operating expenses: Transportation and processing 693,670 — — (252,825) 440,845 Production 93,842 — — — 93,842 Operating and maintenance — 30,712 9,806 — 40,518 Exploration 282 — — — 282 Selling, general and administrative (a) 62,952 11,366 5,492 8,660 88,470 Depreciation, depletion and amortization 530,745 37,773 17,109 3,672 589,299 Loss on sale/exchange of long-lived assets 9,708 — 409 — 10,117 Impairment and expiration of leases 12,095 — — — 12,095 Other operating expenses (b) 10,206 — — 279,968 290,174 Total operating expenses 1,413,500 79,851 32,816 39,475 1,565,642 Operating (loss) income $ (235,433) $ 191,305 $ 54,568 $ (292,280) $ (281,840) Reconciliation of profit and loss metric to net (loss) income attributable to EQT Corporation Loss (income) from investments $ 1,671 $ (597) $ (35,616) $ 300 $ (34,242) Other income (3,488) (128) (75) (269) (3,960) Loss on debt extinguishment — — — 365 365 Interest expense, net — — — 158,299 158,299 (Loss) income before income taxes (233,616) 192,030 90,259 (450,975) (402,302) Income tax benefit — — — (104,870) (104,870) Net (loss) income (233,616) 192,030 90,259 (346,105) (297,432) Less: Net income (loss) attributable to noncontrolling interests — 3,687 — (296) 3,391 Net (loss) income attributable to EQT Corporation $ (233,616) $ 188,343 $ 90,259 $ (345,809) $ (300,823) (a) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast as the necessary information is not available and the cost to develop such information would be excessive. (b) Corporate other operating expenses consisted primarily of transaction costs related to the Equitrans Midstream Merger. See Note 12. Profit and loss metric with reconciliation to net income attributable to EQT Corporation for the three months ended September 30, 2023 Production Gathering Other and intersegment eliminations EQT Corporation (Thousands) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 1,001,883 $ — $ — $ 1,001,883 Gain on derivatives 177,906 — — 177,906 Pipeline, net marketing services and other 3,456 42,057 (39,200) 6,313 Total operating revenues 1,183,245 42,057 (39,200) 1,186,102 Operating expenses: Transportation and processing 593,988 — (39,200) 554,788 Production 62,858 — — 62,858 Operating and maintenance — 4,235 — 4,235 Exploration 447 — — 447 Selling, general and administrative (a) 56,942 — — 56,942 Depreciation, depletion and amortization 440,360 4,054 2,472 446,886 Loss on sale/exchange of long-lived assets 1,511 — — 1,511 Impairment and expiration of leases 6,419 — — 6,419 Other operating expenses (b) (621) — 36,830 36,209 Total operating expenses 1,161,904 8,289 102 1,170,295 Operating income (loss) $ 21,341 $ 33,768 $ (39,302) $ 15,807 Reconciliation of profit and loss metric to net income attributable to EQT Corporation Loss (income) from investments $ 424 $ (255) $ 377 $ 546 Other income — — (132) (132) Loss on debt extinguishment — — 1,089 1,089 Interest expense, net — — 60,427 60,427 Income (loss) before income taxes 20,917 34,023 (101,063) (46,123) Income tax benefit — — (126,853) (126,853) Net income 20,917 34,023 25,790 80,730 Less: Net income (loss) attributable to noncontrolling interests 149 — (674) (525) Net income attributable to EQT Corporation $ 20,768 $ 34,023 $ 26,464 $ 81,255 (a) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast as the necessary information is not available and the cost to develop such information would be excessive. (b) Corporate other operating expenses consisted primarily of transaction costs related to the Tug Hill and XcL Midstream Acquisition (defined in Note 11). Profit and loss metric with reconciliation to net (loss) income attributable to EQT Corporation for the nine months ended September 30, 2024 Production Gathering Transmission Other and intersegment eliminations EQT Corporation (Thousands) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 3,293,174 $ — $ — $ — $ 3,293,174 Gain (loss) on derivatives 240,333 (5,673) — — 234,660 Pipeline, net marketing services and other 2,757 415,491 87,384 (384,884) 120,748 Total operating revenues 3,536,264 409,818 87,384 (384,884) 3,648,582 Operating expenses: Transportation and processing 1,914,010 — — (384,917) 1,529,093 Production 273,042 — — — 273,042 Operating and maintenance — 56,018 9,806 — 65,824 Exploration 2,576 — — — 2,576 Selling, general and administrative (a) 180,767 11,366 5,492 31,105 228,730 Depreciation, depletion and amortization 1,470,966 45,282 17,109 8,674 1,542,031 (Gain) loss on sale/exchange of long-lived assets (310,252) (22) 409 — (309,865) Impairment and expiration of leases 58,963 — — — 58,963 Other operating expenses (b) 23,650 — — 330,687 354,337 Total operating expenses 3,613,722 112,644 32,816 (14,451) 3,744,731 Operating (loss) income $ (77,458) $ 297,174 $ 54,568 $ (370,433) $ (96,149) Reconciliation of profit and loss metric to net (loss) income attributable to EQT Corporation (Income) loss from investments $ (371) $ (2,109) $ (35,616) $ 1,422 $ (36,674) Other income (17,638) (5,153) (75) (730) (23,596) Loss on debt extinguishment — — — 5,651 5,651 Interest expense, net — — — 268,390 268,390 (Loss) income before income taxes (59,449) 304,436 90,259 (645,166) (309,920) Income tax benefit — — — (124,790) (124,790) Net (loss) income (59,449) 304,436 90,259 (520,376) (185,130) Less: Net income (loss) attributable to noncontrolling interests — 3,687 — (999) 2,688 Net (loss) income attributable to EQT Corporation $ (59,449) $ 300,749 $ 90,259 $ (519,377) $ (187,818) (a) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast as the necessary information is not available and the cost to develop such information would be excessive. (b) Corporate other operating expenses consisted primarily of transaction costs related to the Equitrans Midstream Merger. See Note 12. Profit and loss metric with reconciliation to net income (loss) attributable to EQT Corporation for the nine months ended September 30, 2023 Production Gathering Other and intersegment eliminations EQT Corporation (Thousands) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 3,680,566 $ — $ — $ 3,680,566 Gain on derivatives 1,167,144 — — 1,167,144 Pipeline, net marketing services and other 9,675 95,753 (87,214) 18,214 Total operating revenues 4,857,385 95,753 (87,214) 4,865,924 Operating expenses: Transportation and processing 1,680,009 — (87,075) 1,592,934 Production 163,963 — — 163,963 Operating and maintenance — 6,108 — 6,108 Exploration 2,602 — — 2,602 Selling, general and administrative (a) 168,999 — — 168,999 Depreciation, depletion and amortization 1,214,882 8,077 7,296 1,230,255 Loss on sale/exchange of long-lived assets 17,814 — — 17,814 Impairment and expiration of leases 22,290 — — 22,290 Other operating expenses (b) 7,645 — 61,620 69,265 Total operating expenses 3,278,204 14,185 (18,159) 3,274,230 Operating income (loss) $ 1,579,181 $ 81,568 $ (69,055) $ 1,591,694 Reconciliation of profit and loss metric to net income (loss) attributable to EQT Corporation (Income) loss from investments $ (2,675) $ (4,004) $ 1,369 $ (5,310) Other income (395) — (474) (869) Gain on debt extinguishment — — (55) (55) Interest expense, net — — 146,856 146,856 Income (loss) before income taxes 1,582,251 85,572 (216,751) 1,451,072 Income tax expense — — 217,975 217,975 Net income (loss) 1,582,251 85,572 (434,726) 1,233,097 Less: Net income (loss) attributable to noncontrolling interests 1,588 — (1,668) (80) Net income (loss) attributable to EQT Corporation $ 1,580,663 $ 85,572 $ (433,058) $ 1,233,177 (a) Selling, general and administrative expense incurred prior to the Equitrans Midstream Merger closing date was not recast as the necessary information is not available and the cost to develop such information would be excessive. (b) Corporate other operating expenses consisted primarily of transaction costs related to the Tug Hill and XcL Midstream Acquisition. The Company did not have an investment in the MVP Joint Venture or goodwill as of September 30, 2023. Capital expenditures by segment Three Months Ended September 30, Nine Months Ended 2024 2023 2024 2023 (Thousands) Capital expenditures: Production (a) $ 454,772 $ 435,646 $ 1,539,904 $ 1,366,669 Gathering (b) 79,597 6,941 111,644 11,521 Transmission 10,118 — 10,118 — Other 13,402 1,998 21,345 8,546 Total capital expenditures $ 557,889 $ 444,585 $ 1,683,011 $ 1,386,736 (a) Production capital expenditures included capital expenditures attributable to the noncontrolling interest in The Mineral Company LLC (a joint venture formed between a subsidiary of EQT and a third-party investor for the purpose of purchasing certain mineral rights in the Appalachian Basin) of approximately $8.5 million for the nine months ended September 30, 2023. The Mineral Company LLC was dissolved in the third quarter of 2023. (b) Gathering capital expenditures included capital expenditures attributable to the noncontrolling interest in Eureka Midstream Holdings of approximately $1.6 million for both the three and nine months ended September 30, 2024. See Notes 1 and 12.
Schedule of Assets By Segment	Assets by segment as of September 30, 2024 Production Gathering Transmission Other and intersegment eliminations EQT Corporation (Thousands) Investment in the MVP Joint Venture $ — $ — $ 3,358,346 $ — $ 3,358,346 Goodwill — — 1,289,759 888,477 2,178,236 Other segment assets (a) 22,890,299 8,187,601 2,962,486 368,621 34,409,007 Total assets $ 22,890,299 $ 8,187,601 $ 7,610,591 $ 1,257,098 $ 39,945,589 (a) Other segment assets in other and intersegment eliminations includes cash and cash equivalents. Assets by segment as of September 30, 2023 Production Gathering Other and intersegment eliminations EQT Corporation (Thousands) Total assets (a) $ 23,138,353 $ 1,167,766 $ 248,869 $ 24,554,988 (a) Total assets in other and intersegment eliminations includes cash and cash equivalents.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
Revenue from Contracts with Customers (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The table below provides disaggregated information on the Company's revenues. Certain other revenue contracts are outside the scope of ASU 2014-09, Revenue from Contracts with Customers . These contracts are reported in pipeline, net marketing services and other revenues in the Statements of Condensed Consolidated Operations. Derivative contracts are also outside the scope of ASU 2014-09. Three Months Ended Nine Months Ended 2024 2023 2024 2023 (Thousands) Revenues from contracts with customers: Production: Sales of natural gas, NGLs and oil Natural gas sales $ 938,911 $ 859,512 $ 2,791,190 $ 3,337,600 NGLs sales 139,697 108,205 435,581 274,932 Oil sales 21,144 34,166 66,403 68,034 Sales of natural gas, NGLs and oil 1,099,752 1,001,883 3,293,174 3,680,566 Gathering: Pipeline revenues Firm reservation fee revenues (a) 136,752 — 136,752 — Volumetric-based fee revenues 140,077 42,057 278,739 95,753 Total 276,829 42,057 415,491 95,753 Transmission: Pipeline revenues Firm reservation fee revenues 73,034 — 73,034 — Volumetric-based fee revenues 14,226 — 14,226 — Total 87,260 — 87,260 — Other and intersegment eliminations (252,805) (39,200) (384,884) (87,214) Total revenues from contracts with customers $ 1,211,036 $ 1,004,740 $ 3,411,041 $ 3,689,105 Other sources of revenue: Gain on derivatives $ 66,816 $ 177,906 $ 234,660 $ 1,167,144 Net marketing services and other revenues 5,950 3,456 2,881 9,675 Total other sources of revenue $ 72,766 $ 181,362 $ 237,541 $ 1,176,819 Total operating revenues $ 1,283,802 $ 1,186,102 $ 3,648,582 $ 4,865,924 (a) Firm reservation fee revenues for the three and nine months ended September 30, 2024 included unbilled revenues supported by MVCs of approximately $1.8 million.
Schedule of Remaining Performance Obligations	The following table summarizes the transaction price allocated to the Company's remaining obligations on all contracts with fixed consideration as of September 30, 2024. The table excludes contracts that qualified for the exception to the relative standalone selling price method as of September 30, 2024. The MVP Joint Venture is accounted for as an equity method investment and, as such, its remaining performance obligations have been excluded from the table. 2024 (a) 2025 2026 2027 2028 Thereafter Total (Thousands) Gathering firm reservation fees: Third-party contracts $ 25,850 $ 101,137 $ 92,186 $ 85,651 $ 85,651 $ 457,444 $ 847,919 Affiliate contracts 22,445 87,075 80,698 80,362 76,670 1,188,383 1,535,633 Total Gathering firm reservation fees 48,295 188,212 172,884 166,013 162,321 1,645,827 2,383,552 Gathering revenues supported by MVCs: Third-party contracts 21,036 82,257 89,078 80,765 77,014 250,652 600,802 Affiliate contracts 90,630 372,446 397,966 410,621 411,740 2,453,073 4,136,476 Total Gathering revenues supported by MVCs 111,666 454,703 487,044 491,386 488,754 2,703,725 4,737,278 Transmission firm reservation fees: Third-party contracts 48,754 175,010 174,191 171,750 169,393 980,973 1,720,071 Affiliate contracts 57,415 227,116 225,588 225,588 225,260 1,752,347 2,713,314 Total Transmission firm reservation fees 106,169 402,126 399,779 397,338 394,653 2,733,320 4,433,385 Total $ 266,130 $ 1,045,041 $ 1,059,707 $ 1,054,737 $ 1,045,728 $ 7,082,872 $ 11,554,215 (a) October 1 through December 31. As of September 30, 2024, the Company had no remaining performance obligations on its natural gas sales contracts with fixed consideration.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
Derivative Instruments (Tables)	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Offsetting Assets	The table below summarizes the impact of netting agreements and margin deposits on gross derivative assets and liabilities. Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Derivative instruments subject to Margin requirements with counterparties Net derivative instruments (Thousands) September 30, 2024 Asset derivative instruments, at fair value $ 251,657 $ (152,115) $ — $ 99,542 Liability derivative instruments, at fair value 197,712 (152,115) (17,488) 28,109 December 31, 2023 Asset derivative instruments, at fair value $ 978,634 $ (112,203) $ — $ 866,431 Liability derivative instruments, at fair value 186,363 (112,203) (13,017) 61,143
Schedule of Offsetting Liabilities	The table below summarizes the impact of netting agreements and margin deposits on gross derivative assets and liabilities. Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Derivative instruments subject to Margin requirements with counterparties Net derivative instruments (Thousands) September 30, 2024 Asset derivative instruments, at fair value $ 251,657 $ (152,115) $ — $ 99,542 Liability derivative instruments, at fair value 197,712 (152,115) (17,488) 28,109 December 31, 2023 Asset derivative instruments, at fair value $ 978,634 $ (112,203) $ — $ 866,431 Liability derivative instruments, at fair value 186,363 (112,203) (13,017) 61,143

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The table below summarizes assets and liabilities measured at fair value on a recurring basis. Fair value measurements at reporting date using: Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Quoted prices in active Significant other observable inputs Significant unobservable inputs (Thousands) September 30, 2024 Asset derivative instruments, at fair value $ 251,657 $ 41,772 $ 209,885 $ — Liability derivative instruments, at fair value 197,712 17,402 180,310 — December 31, 2023 Asset derivative instruments, at fair value $ 978,634 $ 66,302 $ 912,332 $ — Liability derivative instruments, at fair value 186,363 42,218 144,145 —

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	The table below summarizes the Company's outstanding debt. September 30, 2024 December 31, 2023 Principal Value Carrying Value (a) Principal Value Carrying Value (a) (Thousands) EQT's revolving credit facility maturing July 23, 2029 $ 1,967,000 $ 1,967,000 $ — $ — Eureka's revolving credit facility maturing November 13, 2025 330,000 330,000 — — Term Loan Facility due June 30, 2026 (b) 500,000 497,970 1,250,000 1,244,265 Debentures and senior notes: EQT's 6.125% notes due February 1, 2025 (b) — — 601,521 600,389 EQM's 6.000% notes due July 1, 2025 400,000 400,150 — — EQT's 1.75% convertible notes due May 1, 2026 (c) — — 290,177 286,185 EQT's 3.125% notes due May 15, 2026 392,915 390,889 392,915 389,978 EQT's 7.75% debentures due July 15, 2026 115,000 114,088 115,000 113,716 EQM's 4.125% notes due December 1, 2026 500,000 487,340 — — EQM's 7.500% notes due June 1, 2027 500,000 512,554 — — EQM's 6.500% notes due July 1, 2027 900,000 917,091 — — EQT's 3.90% notes due October 1, 2027 1,169,503 1,166,252 1,169,503 1,165,439 EQT's 5.700% notes due April 1, 2028 500,000 492,074 500,000 490,376 EQM's 5.500% notes due July 15, 2028 850,000 846,328 — — EQT's 5.00% notes due January 15, 2029 318,494 315,619 318,494 315,121 EQM's 4.50% notes due January 15, 2029 800,000 764,360 — — EQM's 6.375% notes due April 1, 2029 600,000 609,177 — — EQT's 7.000% notes due February 1, 2030 (b) 674,800 671,486 674,800 671,020 EQM's 7.500% notes due June 1, 2030 500,000 537,317 — — EQM's 4.75% notes due January 15, 2031 1,100,000 1,042,951 — — EQT's 3.625% notes due May 15, 2031 435,165 430,649 435,165 430,141 EQT's 5.750% notes due February 1, 2034 750,000 742,598 — — EQM's 6.500% notes due July 15, 2048 550,000 557,655 — — EQT's note payable to EQM (d) — — 88,483 88,483 Total debt 13,852,877 13,793,548 5,836,058 5,795,113 Less: Current portion of debt (e) 400,000 400,150 296,424 292,432 Long-term debt $ 13,452,877 $ 13,393,398 $ 5,539,634 $ 5,502,681 (a) For EQT's revolving credit facility, Eureka's revolving credit facility and, as of December 31, 2023, EQT's note payable to EQM, the principal value represents the carrying value. For all other debt, the principal value less the unamortized debt issuance costs and debt discounts and, for EQM's senior notes, the unamortized fair value adjustments recorded with Equitrans Midstream Merger purchase price accounting represents the carrying value. (b) Interest rates for the Term Loan Facility and EQT's 7.000% senior notes fluctuate based on changes to the credit ratings assigned to EQT's senior notes by Moody's, S&P and Fitch. Prior to EQT's redemption of all of its outstanding 6.125% senior notes, interest rates for EQT's 6.125% senior notes fluctuated based on changes to the credit ratings assigned to EQT's senior notes by Moody's, S&P and Fitch. Interest rates for the Company's other outstanding debt do not fluctuate. (c) As of December 31, 2023, the fair value of EQT's 1.75% convertible notes was $768.6 million and was a Level 2 fair value measurement. See Note 5. (d) As a result of the Equitrans Midstream Merger, EQT's note payable to EQM has been eliminated in consolidation. (e) As of September 30, 2024, the current portion of debt included EQM's 6.000% senior notes. As of December 31, 2023, the current portion of debt included EQT's 1.75% convertible notes and a portion of EQT's note payable to EQM.
Schedule of Debt Redeemed or Repurchased	The Company repaid, redeemed or repurchased the following debt during the nine months ended September 30, 2024. Debt Tranche Principal Premiums Accrued but Unpaid Interest Total Cost (Thousands) EQM's 4.00% notes due August 1, 2024 (a) $ 300,000 $ — $ 6,000 $ 306,000 EQT's 6.125% notes due February 1, 2025 601,521 1,178 13,612 616,311 Term Loan Facility due June 30, 2026 750,000 — 332 750,332 EQT's 1.75% convertible notes due May 1, 2026 583 — — 583 Total $ 1,652,104 $ 1,178 $ 19,944 $ 1,673,226 (a) EQM's 4.00% senior notes, which were consolidated by the Company as a result of the Equitrans Midstream Merger, were redeemed at maturity.

(Loss) Income Per Share (Table)

(Loss) Income Per Share (Table)	9 Months Ended
(Loss) Income Per Share (Table)	Sep. 30, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted (Loss) Income Per Share	The table below provides the computation for basic and diluted (loss) income per share. Three Months Ended Nine Months Ended 2024 2023 2024 2023 (Thousands, except per share amounts) Net (loss) income attributable to EQT Corporation – Basic (loss) income available to shareholders $ (300,823) $ 81,255 $ (187,818) $ 1,233,177 Add back: Interest expense on Convertible Notes, net of tax (a) — 2,042 — 6,117 Diluted (loss) income available to shareholders $ (300,823) $ 83,297 $ (187,818) $ 1,239,294 Weighted average common stock outstanding – Basic 559,603 383,359 480,354 368,936 Options, restricted stock, performance awards and stock appreciation rights (a) — 4,398 — 4,606 Convertible Notes (a) — 28,433 — 28,317 Weighted average common stock outstanding – Diluted 559,603 416,190 480,354 401,859 (Loss) income per share of common stock attributable to EQT Corporation: Basic $ (0.54) $ 0.21 $ (0.39) $ 3.34 Diluted $ (0.54) $ 0.20 $ (0.39) $ 3.08 (a) In periods when the Company reports a net loss, all options, restricted stock, performance awards and stock appreciation awards, as applicable, are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on loss per share. As a result, for the three and nine months ended September 30, 2024, all such securities of 7.6 million and 6.0 million, respectively, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share. In addition, prior to EQT's redemption of the Convertible Notes, the Company used the if-converted method to calculate the impact of the Convertible Notes on diluted (loss) income per share. For the nine months ended September 30, 2024, such if-converted securities of approximately 0.5 million as well as the related add back of interest expense on the Convertible Notes, net of tax, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.

Equitrans Midstream Merger (Tab

Equitrans Midstream Merger (Tables)	9 Months Ended
Equitrans Midstream Merger (Tables)	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Purchase Price Allocation	The Company expects to complete the purchase price allocation once it has received all necessary information, at which time the value of the assets acquired and liabilities assumed will be revised if necessary. Preliminary Purchase Price Allocation (Thousands) Consideration: Equity $ 5,548,608 Cash (paid in lieu of fractional shares) 29 Redemption of Equitrans Midstream preferred stock 685,337 Settlement of pre-existing relationships (237,662) Total consideration $ 5,996,312 Fair value of assets acquired: Cash and cash equivalents $ 58,767 Accounts receivable, net 85,308 Income tax receivable 2,192 Prepaid expenses and other 22,048 Property, plant and equipment 9,387,823 Investment in the MVP Joint Venture 3,222,311 Net intangible assets 250,000 Other assets 240,248 Noncontrolling interest in consolidated subsidiaries (144,894) Amount attributable to assets acquired $ 13,123,803 Fair value of liabilities assumed: Current portion of debt $ 699,837 Accounts payable 65,761 Accrued interest 47,996 Other current liabilities 76,563 Revolving credit facility borrowings 1,035,000 Senior notes 6,273,941 Deferred income taxes 961,894 Other liabilities and credits 144,735 Amount attributable to liabilities assumed $ 9,305,727 Goodwill $ 2,178,236
Schedule of Post-Acquisition Operating Results	The table below summarizes amounts contributed by the assets acquired in the Equitrans Midstream Merger, inclusive of intercompany eliminations, to the Company's consolidated results for the period beginning on July 22, 2024 and ending on September 30, 2024. July 22, 2024 through September 30, 2024 (Thousands) Loss on derivatives $ (5,673) Pipeline, net marketing services and other 110,403 Total operating revenues $ 104,730 Net loss $ (159,313) Less: Net income attributable to noncontrolling interests 3,687 Net loss attributable to EQT Corporation $ (163,000) Nine Months Ended 2024 2023 (Thousands, except per share amounts) Pro forma operating revenues: Pro forma sales of natural gas, NGLs and oil $ 3,293,174 $ 3,680,566 Pro forma gain on derivatives 201,228 1,221,557 Pro forma pipeline, net marketing services and other 454,136 456,082 Pro forma total operating revenues $ 3,948,538 $ 5,358,205 Pro forma net income $ 19,543 $ 1,677,891 Less: Pro forma net income attributable to noncontrolling interests 17,696 21,891 Pro forma net income attributable to EQT Corporation $ 1,847 $ 1,656,000 Pro forma income per share of common stock attributable to EQT Corporation: Pro forma net income attributable to EQT Corporation – Basic $ 0.00 $ 4.49 Pro forma net income attributable to EQT Corporation – Diluted $ 0.00 $ 4.14

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	9 Months Ended
Commitment and Contingencies (Tables)	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Purchase Commitment	The following table summarizes the Company's commitments to pay demand charges under long-term contracts and binding precedent agreements with various pipelines and charges for processing capacity. The table presents the year or years in which such commitments are to be paid as of September 30, 2024 and December 31, 2023. As of September 30, 2024 As of December 31, 2023 (Billions) 2024 (a) $ 0.2 $ 1.8 2025 0.8 1.8 2026 0.7 1.7 2027 0.7 1.7 2028 0.6 1.4 Thereafter 4.2 13.6 Total $ 7.2 $ 22.0 (a) As of September 30, 2024, the noted amount represented commitments payable for the three months ended December 31, 2024; as of December 31, 2023, the noted amount represented commitments payable for the year ended December 31, 2024. The following table summarizes the Company's commitments to pay for services related to its operations, including electric hydraulic fracturing services, and purchase equipment, materials and sand. The table presents the year or years in which such commitments are to be paid as of September 30, 2024 and December 31, 2023. As of September 30, 2024 As of December 31, 2023 (Millions) 2024 (a) $ 60.7 $ 228.8 2025 194.6 164.5 2026 148.4 138.0 2027 88.2 111.0 2028 37.9 72.9 Thereafter — 107.9 Total $ 529.8 $ 823.1 (a) As of September 30, 2024, the noted amount represented commitments payable for the three months ended December 31, 2024; as of December 31, 2023, the noted amount represented commitments payable for the year ended December 31, 2024.

Financial Statements - Narrativ

Financial Statements - Narrative (Details)	2 Months Ended	7 Months Ended
Financial Statements - Narrative (Details)	Sep. 30, 2024 reportable_segment shares	Jul. 21, 2024 reportable_segment	Jul. 22, 2024	Jul. 18, 2024 shares	Jul. 17, 2024 shares	Dec. 31, 2023 shares	Sep. 30, 2023 shares
Subsequent Event [Line Items]
Number of reportable segments \| reportable_segment	3	1
Common stock, authorized shares (in shares) \| shares	1,280,000,000			1,280,000,000	640,000,000	640,000,000	640,000,000
Eureka Midstream Holdings L L C \| Variable Interest Entity, Primary Beneficiary
Subsequent Event [Line Items]
Ownership interest (in percent)			60%

Financial Statements - Schedule

Financial Statements - Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash paid during the period for:
Interest, net of amount capitalized		$ 196,632	$ 145,787
Income taxes, net		4,850	13,441
Non-cash activity during the period for:
Equity issued as consideration for acquisition		5,548,608	2,152,631
Issuance of EQT Corporation common stock for Convertible Notes settlement	$ 16	285,608	98
NEPA Non-Operated Asset Divestiture		155,241	0
Increase in right-of-use assets and lease liabilities, net		11,501	25,849
Increase in asset retirement costs and obligations		7,947	5,216
Capitalization of non-cash equity share-based compensation		5,273	4,587
Investments in nonconsolidated entities		17,598	0
Dissolution of consolidated variable interest entity		$ 0	$ 25,227

Financial Information by Busi_3

Financial Information by Business Segment - Narrative (Details) $ in Millions		2 Months Ended	7 Months Ended
	Feb. 26, 2020 Bcf / d	Sep. 30, 2024 USD ($) business segment reportable_segment	Jul. 21, 2024 reportable_segment	Dec. 31, 2023 USD ($)
Operating segments information
Number of reportable segments \| reportable_segment		3	1
Number of operating segments \| segment		3
Number of lines of business \| business		3
Henry hub cash bonus
Operating segments information
Cash bonus payment period		36 months
Derivative liability \| $		$ 15		$ 48
EQT Producer
Operating segments information
Annual minimum volume (in Bcf per day) \| Bcf / d	3

Financial Information by Busi_4

Financial Information by Business Segment - Schedule Of Financial Information By Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues:
Gain (loss) on derivatives	$ 66,816	$ 177,906	$ 234,660	$ 1,167,144
Total operating revenues	1,283,802	1,186,102	3,648,582	4,865,924
Operating expenses:
Transportation and processing	440,845	554,788	1,529,093	1,592,934
Production	93,842	62,858	273,042	163,963
Operating and maintenance	40,518	4,235	65,824	6,108
Exploration	282	447	2,576	2,602
Selling, general and administrative	88,470	56,942	228,730	168,999
Depreciation, depletion and amortization	589,299	446,886	1,542,031	1,230,255
Loss on sale/exchange of long-lived assets	10,117	1,511	(309,865)	17,814
Impairment and expiration of leases	12,095	6,419	58,963	22,290
Other operating expenses	290,174	36,209	354,337	69,265
Total operating expenses	1,565,642	1,170,295	3,744,731	3,274,230
Operating (loss) income	(281,840)	15,807	(96,149)	1,591,694
(Income) loss from investments	(34,242)	546	(36,674)	(5,310)
Other income	(3,960)	(132)	(23,596)	(869)
Loss (gain) on debt extinguishment	365	1,089	5,651	(55)
Interest expense, net	158,299	60,427	268,390	146,856
(Loss) income before income taxes	(402,302)	(46,123)	(309,920)	1,451,072
Income tax (benefit) expense	(104,870)	(126,853)	(124,790)	217,975
Net (loss) income	(297,432)	80,730	(185,130)	1,233,097
Less: Net income (loss) attributable to noncontrolling interests	3,391	(525)	2,688	(80)
Net (loss) income attributable to EQT Corporation	(300,823)	81,255	(187,818)	1,233,177
Sales of natural gas, NGLs and oil
Operating revenues:
Sales of natural gas, natural gas liquids and oil	1,099,752	1,001,883	3,293,174	3,680,566
Pipeline, net marketing services and other
Operating revenues:
Pipeline, net marketing services and other	117,234	6,313	120,748	18,214
Other and intersegment eliminations
Operating revenues:
Sales of natural gas, natural gas liquids and oil	(252,805)	(39,200)	(384,884)	(87,214)
Gain (loss) on derivatives	0	0	0	0
Total operating revenues	(252,805)	(39,200)	(384,884)	(87,214)
Operating expenses:
Transportation and processing	(252,825)	(39,200)	(384,917)	(87,075)
Production	0	0	0	0
Operating and maintenance	0	0	0	0
Exploration	0	0	0	0
Selling, general and administrative	8,660	0	31,105	0
Depreciation, depletion and amortization	3,672	2,472	8,674	7,296
Loss on sale/exchange of long-lived assets	0	0	0	0
Impairment and expiration of leases	0	0	0	0
Other operating expenses	279,968	36,830	330,687	61,620
Total operating expenses	39,475	102	(14,451)	(18,159)
Operating (loss) income	(292,280)	(39,302)	(370,433)	(69,055)
(Income) loss from investments	300	377	1,422	1,369
Other income	(269)	(132)	(730)	(474)
Loss (gain) on debt extinguishment	365	1,089	5,651	(55)
Interest expense, net	158,299	60,427	268,390	146,856
(Loss) income before income taxes	(450,975)	(101,063)	(645,166)	(216,751)
Income tax (benefit) expense	(104,870)	(126,853)	(124,790)	217,975
Net (loss) income	(346,105)	25,790	(520,376)	(434,726)
Less: Net income (loss) attributable to noncontrolling interests	(296)	(674)	(999)	(1,668)
Net (loss) income attributable to EQT Corporation	(345,809)	26,464	(519,377)	(433,058)
Other and intersegment eliminations \| Sales of natural gas, NGLs and oil
Operating revenues:
Sales of natural gas, natural gas liquids and oil	0	0	0	0
Other and intersegment eliminations \| Pipeline, net marketing services and other
Operating revenues:
Pipeline, net marketing services and other	(252,805)	(39,200)	(384,884)	(87,214)
Production \| Operating Segments
Operating revenues:
Gain (loss) on derivatives	72,489	177,906	240,333	1,167,144
Total operating revenues	1,178,067	1,183,245	3,536,264	4,857,385
Operating expenses:
Transportation and processing	693,670	593,988	1,914,010	1,680,009
Production	93,842	62,858	273,042	163,963
Operating and maintenance	0	0	0	0
Exploration	282	447	2,576	2,602
Selling, general and administrative	62,952	56,942	180,767	168,999
Depreciation, depletion and amortization	530,745	440,360	1,470,966	1,214,882
Loss on sale/exchange of long-lived assets	9,708	1,511	(310,252)	17,814
Impairment and expiration of leases	12,095	6,419	58,963	22,290
Other operating expenses	10,206	(621)	23,650	7,645
Total operating expenses	1,413,500	1,161,904	3,613,722	3,278,204
Operating (loss) income	(235,433)	21,341	(77,458)	1,579,181
(Income) loss from investments	1,671	424	(371)	(2,675)
Other income	(3,488)	0	(17,638)	(395)
Loss (gain) on debt extinguishment	0	0	0	0
Interest expense, net	0	0	0	0
(Loss) income before income taxes	(233,616)	20,917	(59,449)	1,582,251
Income tax (benefit) expense	0	0	0	0
Net (loss) income	(233,616)	20,917	(59,449)	1,582,251
Less: Net income (loss) attributable to noncontrolling interests	0	149	0	1,588
Net (loss) income attributable to EQT Corporation	(233,616)	20,768	(59,449)	1,580,663
Production \| Operating Segments \| Sales of natural gas, NGLs and oil
Operating revenues:
Sales of natural gas, natural gas liquids and oil	1,099,752	1,001,883	3,293,174	3,680,566
Production \| Operating Segments \| Pipeline, net marketing services and other
Operating revenues:
Pipeline, net marketing services and other	5,826	3,456	2,757	9,675
Gathering \| Operating Segments
Operating revenues:
Sales of natural gas, natural gas liquids and oil	276,829	42,057	415,491	95,753
Gain (loss) on derivatives	(5,673)	0	(5,673)	0
Total operating revenues	271,156	42,057	409,818	95,753
Operating expenses:
Transportation and processing	0	0	0	0
Production	0	0	0	0
Operating and maintenance	30,712	4,235	56,018	6,108
Exploration	0	0	0	0
Selling, general and administrative	11,366	0	11,366	0
Depreciation, depletion and amortization	37,773	4,054	45,282	8,077
Loss on sale/exchange of long-lived assets	0	0	(22)	0
Impairment and expiration of leases	0	0	0	0
Other operating expenses	0	0	0	0
Total operating expenses	79,851	8,289	112,644	14,185
Operating (loss) income	191,305	33,768	297,174	81,568
(Income) loss from investments	(597)	(255)	(2,109)	(4,004)
Other income	(128)	0	(5,153)	0
Loss (gain) on debt extinguishment	0	0	0	0
Interest expense, net	0	0	0	0
(Loss) income before income taxes	192,030	34,023	304,436	85,572
Income tax (benefit) expense	0	0	0	0
Net (loss) income	192,030	34,023	304,436	85,572
Less: Net income (loss) attributable to noncontrolling interests	3,687	0	3,687	0
Net (loss) income attributable to EQT Corporation	188,343	34,023	300,749	85,572
Gathering \| Operating Segments \| Sales of natural gas, NGLs and oil
Operating revenues:
Sales of natural gas, natural gas liquids and oil	0	0	0	0
Gathering \| Operating Segments \| Pipeline, net marketing services and other
Operating revenues:
Pipeline, net marketing services and other	276,829	42,057	415,491	95,753
Transmission \| Operating Segments
Operating revenues:
Sales of natural gas, natural gas liquids and oil	87,260	$ 0	87,260	$ 0
Gain (loss) on derivatives	0		0
Total operating revenues	87,384		87,384
Operating expenses:
Transportation and processing	0		0
Production	0		0
Operating and maintenance	9,806		9,806
Exploration	0		0
Selling, general and administrative	5,492		5,492
Depreciation, depletion and amortization	17,109		17,109
Loss on sale/exchange of long-lived assets	409		409
Impairment and expiration of leases	0		0
Other operating expenses	0		0
Total operating expenses	32,816		32,816
Operating (loss) income	54,568		54,568
(Income) loss from investments	(35,616)		(35,616)
Other income	(75)		(75)
Loss (gain) on debt extinguishment	0		0
Interest expense, net	0		0
(Loss) income before income taxes	90,259		90,259
Income tax (benefit) expense	0		0
Net (loss) income	90,259		90,259
Less: Net income (loss) attributable to noncontrolling interests	0		0
Net (loss) income attributable to EQT Corporation	90,259		90,259
Transmission \| Operating Segments \| Sales of natural gas, NGLs and oil
Operating revenues:
Sales of natural gas, natural gas liquids and oil	0		0
Transmission \| Operating Segments \| Pipeline, net marketing services and other
Operating revenues:
Pipeline, net marketing services and other	$ 87,384		$ 87,384

Financial Information by Busi_5

Financial Information by Business Segment - Schedule of Segment Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Segment assets:
Investment in the MVP Joint Venture	$ 3,358,346	$ 0
Goodwill	2,178,236	0
Other segment assets	34,409,007
Total assets	39,945,589	$ 25,285,098	$ 24,554,988
Operating Segments
Segment assets:
Investment in the MVP Joint Venture
Goodwill
Other segment assets
Total assets
Other and intersegment eliminations
Segment assets:
Investment in the MVP Joint Venture	0
Goodwill	888,477
Other segment assets	368,621
Total assets	1,257,098		248,869
Production \| Operating Segments
Segment assets:
Investment in the MVP Joint Venture	0
Goodwill	0
Other segment assets	22,890,299
Total assets	22,890,299		23,138,353
Gathering \| Operating Segments
Segment assets:
Investment in the MVP Joint Venture	0
Goodwill	0
Other segment assets	8,187,601
Total assets	8,187,601		$ 1,167,766
Transmission \| Operating Segments
Segment assets:
Investment in the MVP Joint Venture	3,358,346
Goodwill	1,289,759
Other segment assets	2,962,486
Total assets	$ 7,610,591

Financial Information by Busi_6

Financial Information by Business Segment - Schedule of Capital Expenditures By Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Capital expenditures:
Total capital expenditures	$ 557,889	$ 444,585	$ 1,683,011	$ 1,386,736
Mineral Company
Capital expenditures:
Total capital expenditures				8,500
Eureka Midstream Holdings L L C
Capital expenditures:
Total capital expenditures	1,600		1,600
Operating Segments \| Production
Capital expenditures:
Total capital expenditures	454,772	435,646	1,539,904	1,366,669
Operating Segments \| Gathering
Capital expenditures:
Total capital expenditures	79,597	6,941	111,644	11,521
Operating Segments \| Transmission
Capital expenditures:
Total capital expenditures	10,118	0	10,118	0
Other and intersegment eliminations
Capital expenditures:
Total capital expenditures	$ 13,402	$ 1,998	$ 21,345	$ 8,546

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue
Amounts due from contracts with customers	$ 443.3	$ 443.3	$ 584.8
Gathering \| Affiliate contracts
Disaggregation of Revenue
Weighted average remaining term	13 years	13 years
Gathering \| Third-party contracts
Disaggregation of Revenue
Weighted average remaining term	12 years	12 years
Transmission \| Affiliate contracts
Disaggregation of Revenue
Weighted average remaining term	11 years	11 years
Transmission \| Third-party contracts
Disaggregation of Revenue
Weighted average remaining term	11 years	11 years
Natural Gas, Oil, and NGLs Sales
Disaggregation of Revenue
Number of days in which payment is required		25 days
Pipeline Revenue
Disaggregation of Revenue
Number of days in which payment is required		10 days
Pipeline Revenue \| Gathering
Disaggregation of Revenue
Number of days in which payment is required		21 days
Number of days in which payment is invoiced		1 month
Gathering revenues supported by MVCs:
Disaggregation of Revenue
Unbilled revenues	$ 1.8	$ 1.8

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Gain on derivatives	$ 66,816	$ 177,906	$ 234,660	$ 1,167,144
Total other sources of revenue	72,766	181,362	237,541	1,176,819
Total operating revenues	1,283,802	1,186,102	3,648,582	4,865,924
Other and intersegment eliminations
Disaggregation of Revenue
Total revenues from contracts with customers	(252,805)	(39,200)	(384,884)	(87,214)
Gain on derivatives	0	0	0	0
Total operating revenues	(252,805)	(39,200)	(384,884)	(87,214)
Production \| Operating Segments
Disaggregation of Revenue
Gain on derivatives	72,489	177,906	240,333	1,167,144
Total operating revenues	1,178,067	1,183,245	3,536,264	4,857,385
Gathering \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	276,829	42,057	415,491	95,753
Gain on derivatives	(5,673)	0	(5,673)	0
Total operating revenues	271,156	42,057	409,818	95,753
Transmission \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	87,260	0	87,260	0
Gain on derivatives	0		0
Total operating revenues	87,384		87,384
Total revenues from contracts with customers
Disaggregation of Revenue
Total revenues from contracts with customers	1,211,036	1,004,740	3,411,041	3,689,105
Sales of natural gas, NGLs and oil
Disaggregation of Revenue
Total revenues from contracts with customers	1,099,752	1,001,883	3,293,174	3,680,566
Sales of natural gas, NGLs and oil \| Other and intersegment eliminations
Disaggregation of Revenue
Total revenues from contracts with customers	0	0	0	0
Sales of natural gas, NGLs and oil \| Production \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	1,099,752	1,001,883	3,293,174	3,680,566
Sales of natural gas, NGLs and oil \| Gathering \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	0	0	0	0
Sales of natural gas, NGLs and oil \| Transmission \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	0		0
Natural gas sales \| Production \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	938,911	859,512	2,791,190	3,337,600
NGLs sales \| Production \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	139,697	108,205	435,581	274,932
Oil sales \| Production \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	21,144	34,166	66,403	68,034
Net marketing services and other revenues
Disaggregation of Revenue
Net marketing services and other revenues	5,950	3,456	2,881	9,675
Firm reservation fee revenues \| Gathering \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	136,752	0	136,752	0
Firm reservation fee revenues \| Transmission \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	73,034	0	73,034	0
Volumetric-based fee revenues \| Gathering \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	140,077	42,057	278,739	95,753
Volumetric-based fee revenues \| Transmission \| Operating Segments
Disaggregation of Revenue
Total revenues from contracts with customers	$ 14,226	$ 0	$ 14,226	$ 0

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 11,554,215
Fixed-Price Contract \| Natural gas sales
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	0
Gathering
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	2,383,552
Gathering \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	4,737,278
Gathering \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	847,919
Gathering \| Third-party contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	600,802
Gathering \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	1,535,633
Gathering \| Affiliate contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	4,136,476
Transmission
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	4,433,385
Transmission \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	1,720,071
Transmission \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	2,713,314
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 266,130
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Gathering
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 48,295
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Gathering \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 111,666
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Gathering \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 25,850
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Gathering \| Third-party contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 21,036
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Gathering \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 22,445
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Gathering \| Affiliate contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 90,630
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Transmission
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 106,169
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Transmission \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 48,754
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Transmission \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 57,415
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1,045,041
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Gathering
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 188,212
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Gathering \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 454,703
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Gathering \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 101,137
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Gathering \| Third-party contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 82,257
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Gathering \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 87,075
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Gathering \| Affiliate contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 372,446
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Transmission
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 402,126
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Transmission \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 175,010
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Transmission \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 227,116
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1,059,707
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Gathering
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 172,884
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Gathering \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 487,044
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Gathering \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 92,186
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Gathering \| Third-party contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 89,078
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Gathering \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 80,698
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Gathering \| Affiliate contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 397,966
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Transmission
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 399,779
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Transmission \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 174,191
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Transmission \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 225,588
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1,054,737
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Gathering
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 166,013
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Gathering \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 491,386
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Gathering \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 85,651
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Gathering \| Third-party contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 80,765
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Gathering \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 80,362
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Gathering \| Affiliate contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 410,621
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Transmission
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 397,338
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Transmission \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 171,750
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Transmission \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 225,588
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1,045,728
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Gathering
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 162,321
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Gathering \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 488,754
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Gathering \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 85,651
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Gathering \| Third-party contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 77,014
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Gathering \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 76,670
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Gathering \| Affiliate contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 411,740
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Transmission
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 394,653
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Transmission \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 169,393
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Transmission \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 225,260
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 7,082,872
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Gathering
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1,645,827
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Gathering \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 2,703,725
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Gathering \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 457,444
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Gathering \| Third-party contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 250,652
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Gathering \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1,188,383
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Gathering \| Affiliate contracts \| Gathering revenues supported by MVCs:
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 2,453,073
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Transmission
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 2,733,320
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Transmission \| Third-party contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 980,973
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 \| Transmission \| Affiliate contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1,752,347
Remaining performance obligation, expected timing of satisfaction, period

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details)	9 Months Ended			12 Months Ended
Derivative Instruments - Narrative (Details)	Sep. 30, 2024 USD ($) Bcf	Sep. 30, 2024 USD ($) MBbls	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($) Bcf	Dec. 31, 2023 USD ($) MBbls
Derivative Instruments, Gain (Loss)
Maximum additional collateral as percentage of derivative liability (in percent)			100%
Aggregate fair value of derivative instruments with credit-risk related contingencies	$ 0	$ 0	$ 0	$ 6,400,000	$ 6,400,000
Collateral posted	0	0	0	0	0
OTC Derivative Instrument Contracts
Derivative Instruments, Gain (Loss)
Aggregate fair value of derivative instruments with credit-risk related contingencies	0	0	0	0	0
Exchange traded natural gas contracts
Derivative Instruments, Gain (Loss)
Collateral posted	$ 17,500,000	$ 17,500,000	$ 17,500,000	$ 13,000,000	$ 13,000,000
Cash flow hedging \| Commodity derivatives
Derivative Instruments, Gain (Loss)
Volume of derivative instruments (in Bcf, Mbbls)	2,574	1,464		2,045	1,049

Derivative Instruments - Impact

Derivative Instruments - Impact of Netting Agreements and Margin Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Asset derivative instruments, at fair value
Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets	$ 251,657	$ 978,634
Liability derivative instruments, at fair value
Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets	197,712	186,363
Commodity derivatives
Asset derivative instruments, at fair value
Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets	251,657	978,634
Derivative instruments subject to master netting agreements	(152,115)	(112,203)
Margin requirements with counterparties	0	0
Net derivative instruments	99,542	866,431
Liability derivative instruments, at fair value
Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets	197,712	186,363
Derivative instruments subject to master netting agreements	(152,115)	(112,203)
Margin requirements with counterparties	(17,488)	(13,017)
Net derivative instruments	$ 28,109	$ 61,143

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instrument Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	$ 251,657	$ 978,634
Liability derivative instruments, at fair value	197,712	186,363
Recurring \| Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	41,772	66,302
Liability derivative instruments, at fair value	17,402	42,218
Recurring \| Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	209,885	912,332
Liability derivative instruments, at fair value	180,310	144,145
Recurring \| Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	0	0
Liability derivative instruments, at fair value	0	0
Recurring \| Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	251,657	978,634
Liability derivative instruments, at fair value	$ 197,712	$ 186,363

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Net carrying value of convertible notes	$ 13,793,548	$ 5,795,113
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Net carrying value of convertible notes	11,000,000	4,500,000
Senior Notes \| Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Estimated fair value of long-term debt	11,200,000	4,900,000
Notes payable to EQM \| Note payable to EQM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Net carrying value of convertible notes	$ 0	88,483
Notes payable to EQM \| Significant unobservable inputs (Level 3) \| Note payable to EQM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Estimated fair value of long-term debt		$ 91,000

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
Income Taxes (Details)	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax expense (in percent)	40.30%	15%

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Jan. 19, 2024	Dec. 31, 2023	Apr. 30, 2020
Debt Instrument [Line Items]
Principal Value		$ 13,852,877	$ 13,852,877		$ 5,836,058
Carrying Value		13,793,548	13,793,548		5,795,113
Less: Current portion of debt, principal value		400,000	400,000		296,424
Less: Current portion of debt, carrying value		400,150	400,150		292,432
Total long-term debt, principal value		13,452,877	13,452,877		5,539,634
Total long-term debt, carrying value		13,393,398	13,393,398		5,502,681
Senior Notes
Debt Instrument [Line Items]
Carrying Value		11,000,000	11,000,000		4,500,000
EQT's revolving credit facility maturing July 23, 2029 \| Line of Credit
Debt Instrument [Line Items]
Principal Value		1,967,000	1,967,000		0
Carrying Value		1,967,000	1,967,000		0
Eureka's revolving credit facility maturing November 13, 2025 \| Line of Credit
Debt Instrument [Line Items]
Principal Value		330,000	330,000		0
Carrying Value		330,000	330,000		0
Term Loan Facility due June 30, 2026 \| Loans Payable
Debt Instrument [Line Items]
Principal Value		500,000	500,000		1,250,000
Carrying Value		$ 497,970	$ 497,970		$ 1,244,265
Weighted average interest rates (percent)	7%	6.90%	6.90%
6.125% notes due February 1, 2025 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		6.125%	6.125%		6.125%
Principal Value		$ 0	$ 0		$ 601,521
Carrying Value		$ 0	$ 0		$ 600,389
EQM 6.000% notes due July 1, 2025 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		6%	6%		6%
Principal Value		$ 400,000	$ 400,000		$ 0
Carrying Value		$ 400,150	$ 400,150		$ 0
1.75% convertible notes due May 1, 2026 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		1.75%	1.75%		1.75%	1.75%
Principal Value		$ 0	$ 0		$ 290,177	$ 500,000
Carrying Value		$ 0	$ 0		286,185
1.75% convertible notes due May 1, 2026 \| Senior Notes \| Level 2
Debt Instrument [Line Items]
Fair value of convertible notes					$ 768,600
EQT's 3.125% notes due May 15, 2026 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		3.125%	3.125%		3.125%
Principal Value		$ 392,915	$ 392,915		$ 392,915
Carrying Value		$ 390,889	$ 390,889		$ 389,978
EQT's 7.75% debentures due July 15, 2026 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		7.75%	7.75%		7.75%
Principal Value		$ 115,000	$ 115,000		$ 115,000
Carrying Value		$ 114,088	$ 114,088		$ 113,716
EQM's 4.125% notes due December 1, 2026 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		4.125%	4.125%		4.125%
Principal Value		$ 500,000	$ 500,000		$ 0
Carrying Value		$ 487,340	$ 487,340		$ 0
EQM's 7.500% notes due June 1, 2027 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		7.50%	7.50%		7.50%
Principal Value		$ 500,000	$ 500,000		$ 0
Carrying Value		$ 512,554	$ 512,554		$ 0
EQM's 6.500% notes due July 1, 2027 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		6.50%	6.50%		6.50%
Principal Value		$ 900,000	$ 900,000		$ 0
Carrying Value		$ 917,091	$ 917,091		$ 0
EQT's 3.90% notes due October 1, 2027 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		3.90%	3.90%		3.90%
Principal Value		$ 1,169,503	$ 1,169,503		$ 1,169,503
Carrying Value		$ 1,166,252	$ 1,166,252		$ 1,165,439
EQT's 5.700% notes due April 1, 2028 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		5.70%	5.70%		5.70%
Principal Value		$ 500,000	$ 500,000		$ 500,000
Carrying Value		$ 492,074	$ 492,074		$ 490,376
EQM's 5.500% notes due July 15, 2028 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		5.50%	5.50%		5.50%
Principal Value		$ 850,000	$ 850,000		$ 0
Carrying Value		$ 846,328	$ 846,328		$ 0
EQT's 5.00% notes due January 15, 2029 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		5%	5%		5%
Principal Value		$ 318,494	$ 318,494		$ 318,494
Carrying Value		$ 315,619	$ 315,619		$ 315,121
EQM's 4.50% notes due January 15, 2029 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		4.50%	4.50%		4.50%
Principal Value		$ 800,000	$ 800,000		$ 0
Carrying Value		$ 764,360	$ 764,360		$ 0
EQM's 6.375% notes due April 1, 2029 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		6.375%	6.375%		6.375%
Principal Value		$ 600,000	$ 600,000		$ 0
Carrying Value		$ 609,177	$ 609,177		$ 0
7.000% notes due February 1, 2030 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		7%	7%		7%
Principal Value		$ 674,800	$ 674,800		$ 674,800
Carrying Value		$ 671,486	$ 671,486		$ 671,020
EQM's 7.500% notes due June 1, 2030 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		7.50%	7.50%		7.50%
Principal Value		$ 500,000	$ 500,000		$ 0
Carrying Value		$ 537,317	$ 537,317		$ 0
EQM's 4.75% notes due January 15, 2031 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		4.75%	4.75%		4.75%
Principal Value		$ 1,100,000	$ 1,100,000		$ 0
Carrying Value		$ 1,042,951	$ 1,042,951		$ 0
EQT's 3.625% notes due May 15, 2031 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		3.625%	3.625%		3.625%
Principal Value		$ 435,165	$ 435,165		$ 435,165
Carrying Value		$ 430,649	$ 430,649		$ 430,141
EQT's 5.750% notes due February 1, 2034 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		5.75%	5.75%	5.75%	5.75%
Principal Value		$ 750,000	$ 750,000	$ 750,000	$ 0
Carrying Value		$ 742,598	$ 742,598		$ 0
EQM's 6.500% notes due July 15, 2048 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		6.50%	6.50%		6.50%
Principal Value		$ 550,000	$ 550,000		$ 0
Carrying Value		557,655	557,655		0
Note payable to EQM \| Notes payable to EQM
Debt Instrument [Line Items]
Principal Value		0	0		88,483
Carrying Value		$ 0	$ 0		$ 88,483

Debt - Debt Instrument Redempti

Debt - Debt Instrument Redemption (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Apr. 30, 2020
Senior Notes
Debt Instrument [Line Items]
Principal	$ 1,652,104
Premiums	1,178
Accrued but Unpaid Interest	19,944
Total Cost	$ 1,673,226
EQM 4.00% notes due August 1, 2024 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)	4%	4%
Principal	$ 300,000
Premiums	0
Accrued but Unpaid Interest	6,000
Total Cost	$ 306,000
6.125% notes due February 1, 2025 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)	6.125%	6.125%
Principal	$ 601,521
Premiums	1,178
Accrued but Unpaid Interest	13,612
Total Cost	616,311
Term Loan Facility due June 30, 2025 \| Loans Payable
Debt Instrument [Line Items]
Principal	750,000
Premiums	0
Accrued but Unpaid Interest	332
Total Cost	$ 750,332
1.75% convertible notes due May 1, 2026 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)	1.75%	1.75%	1.75%
Principal	$ 583
Premiums	0
Accrued but Unpaid Interest	0
Total Cost	$ 583

Debt - Narrative (Details)

Debt - Narrative (Details)							1 Months Ended				2 Months Ended	3 Months Ended		9 Months Ended
Debt - Narrative (Details)	Jul. 22, 2024 USD ($) extension	Jan. 22, 2024 USD ($)	Jan. 19, 2024 USD ($)	Jan. 17, 2024 USD ($)	Jan. 12, 2024 USD ($) shares	Aug. 21, 2023 USD ($)	Jan. 31, 2024 USD ($) $ / shares shares	Jan. 17, 2024	Sep. 30, 2023	Apr. 30, 2020 USD ($) $ / shares	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Line of Credit Facility
Repayments of long-term debt														$ 1,655,706,000	$ 1,014,346,000
Debt instrument, face amount											$ 13,852,877,000	$ 13,852,877,000		13,852,877,000		$ 5,836,058,000
Debt issuance costs														18,854,000	5,336,000
Issuance of EQT Corporation common stock for Convertible Notes settlement													$ 16,000	285,608,000	98,000
Aggregate proceeds from capped call termination payment														93,290,000	0
Call Option
Line of Credit Facility
Aggregate proceeds from capped call termination payment		$ 93,300,000
Senior Notes
Line of Credit Facility
Long-term maturity, remainder of fiscal year											0	0		0
Long-term maturity, year one											400,000,000	400,000,000		400,000,000
Long-term debt, maturity, year two											500,000,000	500,000,000		500,000,000
Long-term debt, maturity, year three											1,400,000,000	1,400,000,000		1,400,000,000
Long-term debt, maturity, year four											850,000,000	850,000,000		850,000,000
Long-term debt, maturity, year five											1,400,000,000	1,400,000,000		1,400,000,000
Long-term debt, maturity, after year five											2,150,000,000	$ 2,150,000,000		$ 2,150,000,000
Strike price (in dollars per share) \| $ / shares										$ 15
Capped price (in dollars per share) \| $ / shares										$ 18.75
Senior Notes \| Call Option
Line of Credit Facility
Capped call transaction										$ 32,500,000
EQM Term Loan Facility \| Notes payable to EQM \| Equitrans Midstream
Line of Credit Facility
Repayments of long-term debt	$ 705,000,000
Payments of interest and fees	4,500,000
Term Loan Facility Due June 2025 \| Loans Payable
Line of Credit Facility
Proceeds from issuance of debt						$ 1,250,000,000
Proceeds from debt, net of issuance costs						$ 1,242,900,000
Term Loan Facility due June 30, 2025 \| Loans Payable
Line of Credit Facility
Weighted average interest rates (percent)									7%			6.90%		6.90%
Repayments of long-term debt			$ 750,000,000
Debt instrument, face amount											$ 500,000,000	$ 500,000,000		$ 500,000,000		$ 1,250,000,000
EQT's 5.750% notes due February 1, 2034 \| Senior Notes
Line of Credit Facility
Interest rate, stated percentage (in percent)			5.75%								5.75%	5.75%		5.75%		5.75%
Debt instrument, face amount			$ 750,000,000								$ 750,000,000	$ 750,000,000		$ 750,000,000		$ 0
Proceeds from issuance of debt			742,000,000
Debt issuance costs			$ 8,000,000
1.75% convertible notes due May 1, 2026 \| Senior Notes
Line of Credit Facility
Interest rate, stated percentage (in percent)										1.75%	1.75%	1.75%		1.75%		1.75%
Debt instrument, face amount										$ 500,000,000	$ 0	$ 0		$ 0		$ 290,177,000
Effective interest rate (in percent)				2.40%				2.40%
Conversion ratio					0.0690364
Debt principal redeemed				$ 600,000
Convertible Debt Settled January 2024 \| Senior Notes
Line of Credit Facility
Redemption price (percent)								100%
Debt conversion, converted instrument, amount					$ 289,600,000
Shares issued (in shares) \| shares					19,992,482
Issuance of EQT Corporation common stock for Convertible Notes settlement					$ 285,600,000
Convertible Debt Settled January 2024, Including Exercise Notices Received In December 2023 \| Senior Notes
Line of Credit Facility
Debt conversion, converted instrument, amount							$ 290,200,000
Shares issued (in shares) \| shares							20,036,639
Debt instrument, convertible, average conversion price (in USD per share) \| $ / shares							$ 38.03
Revolving credit facility \| EQT Fourth A& R Revolving Credit Facility
Line of Credit Facility
Line of credit facility, maximum borrowing capacity	$ 3,500,000,000										3,500,000,000	3,500,000,000		3,500,000,000
Number of extensions \| extension	2
Extension term	1 year
Commitment amount	$ 1,000,000,000
Letters of credit outstanding under revolving credit facility											1,000,000	1,000,000		1,000,000		$ 15,000,000
Maximum amount of outstanding short-term loans at any time during the period												2,301,000,000	158,000,000	2,301,000,000	158,000,000
Average daily balance of short-term loans outstanding during the period												$ 1,608,000,000	$ 28,000,000	$ 551,000,000	$ 9,000,000
Weighted average interest rates (percent)												6.90%	6.90%	6.90%	6.90%
Revolving credit facility \| EQT Fourth A& R Revolving Credit Facility \| SOFR
Line of Credit Facility
Credit spread adjustment (percent)	0.10%
Revolving credit facility \| EQT Fourth A& R Revolving Credit Facility \| Minimum \| Base Rate
Line of Credit Facility
Basis spread on variable rate (percent)	0.125%
Revolving credit facility \| EQT Fourth A& R Revolving Credit Facility \| Minimum \| SOFR
Line of Credit Facility
Basis spread on variable rate (percent)	1.125%
Revolving credit facility \| EQT Fourth A& R Revolving Credit Facility \| Maximum \| Base Rate
Line of Credit Facility
Basis spread on variable rate (percent)	1%
Revolving credit facility \| EQT Fourth A& R Revolving Credit Facility \| Maximum \| SOFR
Line of Credit Facility
Basis spread on variable rate (percent)	2%
Revolving credit facility \| Eureka Revolving Credit Facility
Line of Credit Facility
Line of credit facility, maximum borrowing capacity											400,000,000	$ 400,000,000		$ 400,000,000
Letters of credit outstanding under revolving credit facility											0	$ 0		$ 0
Maximum amount of outstanding short-term loans at any time during the period											330,000,000
Average daily balance of short-term loans outstanding during the period											$ 330,000,000
Weighted average interest rates (percent)											8.10%

Investment in the MVP Joint V_2

Investment in the MVP Joint Venture - Narrative (Details) Dekatherm in Thousands, $ in Millions	1 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) mi in	Dec. 31, 2023 Dekatherm mi in	Sep. 30, 2024 Bcf / d mi in	Jul. 01, 2024 USD ($)
MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Capital call notice \| $	$ 15.2
MVP Joint Venture \| Alamance County, North Carolina
Schedule of Equity Method Investments [Line Items]
Pipeline diameter (in inches)	16		16
MVP Joint Venture \| Mountain Valley Pipeline
Schedule of Equity Method Investments [Line Items]
Natural gas interstate pipeline (in miles) \| mi	303		303
Pipeline diameter (in inches)	42		42
Annual minimum volume (in Bcf per day) \| Bcf / d			2
Estimated total project costs, excluding allowance for funds used \| $				$ 8,100
MVP Joint Venture \| MVP Southgate Project
Schedule of Equity Method Investments [Line Items]
Pipeline diameter (in inches)		30
Annual minimum volume (in Bcf per day) \| Dekatherm		550
MVP Joint Venture \| MVP Southgate Project \| Pittsylvania
Schedule of Equity Method Investments [Line Items]
Natural gas interstate pipeline (in miles) \| mi	75	31	75
MVP Joint Venture \| MVP Southgate Project \| Rockingham County, North Carolina
Schedule of Equity Method Investments [Line Items]
Pipeline diameter (in inches)	24		24
MVP Joint Venture \| Mountain Valley Pipeline
Schedule of Equity Method Investments [Line Items]
Ownership percentage (percent)	49.20%		49.20%
MVP Joint Venture \| MVP Southgate Project
Schedule of Equity Method Investments [Line Items]
Ownership percentage (percent)	47.20%		47.20%
Remaining capital obligation, percentage		33%

(Loss) Income Per Share (Detail

(Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share Reconciliation [Abstract]
Net (loss) income attributable to EQT Corporation – Basic (loss) income available to shareholders	$ (300,823)	$ 81,255	$ (187,818)	$ 1,233,177
Add back: Interest expense on Convertible Notes, net of tax	0	2,042	0	6,117
Diluted (loss) income available to shareholders	$ (300,823)	$ 83,297	$ (187,818)	$ 1,239,294
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average common stock outstanding - basic (in shares)	559,603	383,359	480,354	368,936
Weighted average common stock outstanding - diluted (in shares)	559,603	416,190	480,354	401,859
(Loss) income per share of common stock attributable to EQT Corporation:
Basic (in dollars per share)	$ (0.54)	$ 0.21	$ (0.39)	$ 3.34
Diluted (in dollars per share)	$ (0.54)	$ 0.20	$ (0.39)	$ 3.08
Options, restricted stock, performance awards, and stock appreciation rights
(Loss) income per share of common stock attributable to EQT Corporation:
Shares excluded from potentially dilutive securities (in shares)	7,600		6,000
Convertible notes
(Loss) income per share of common stock attributable to EQT Corporation:
Shares excluded from potentially dilutive securities (in shares)			500
Options, restricted stock, performance awards, and stock appreciation rights
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Potentially dilutive securities included in the calculation of diluted earnings (in shares)	0	4,398	0	4,606
Convertible notes
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Potentially dilutive securities included in the calculation of diluted earnings (in shares)	0	28,433	0	28,317

Share-based Compensation (Detai

Share-based Compensation (Details) - shares	9 Months Ended
Share-based Compensation (Details) - shares	Sep. 30, 2024	Jul. 22, 2024
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)	995,620
Vesting period	3 years
Restricted Stock Units (RSUs) \| Equitrans Midstream Merger
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding shares (in shares)		5,175,814
Incentive Performance Share Unit Program \| Performance shares
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)	371,500
Incentive Performance Share Unit Program \| Performance shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Payout percentage (in percent)	0%
Incentive Performance Share Unit Program \| Performance shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Payout percentage (in percent)	200%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Thousands					3 Months Ended	9 Months Ended
	Oct. 29, 2024	May 31, 2024	Apr. 11, 2024	Aug. 22, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Apr. 10, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Cash payments to acquire business						$ 864,242	$ 2,288,201
6.125% notes due February 1, 2025 \| Senior Notes
Business Acquisition [Line Items]
Interest rate, stated percentage (in percent)					6.125%	6.125%			6.125%
NEPA Non Operated Asset Divestiture \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Percentage of natural gas asset interest sold (percent)		40%
Carrying amount of divestiture		$ 522,000
Property, plant and equipment, carrying value		549,000
Other current liabilities, carrying value		7,000
Other liabilities, carrying value		20,000
Proceeds from sale of oil and gas property and equipment		$ 500,000
Equity interest to be received upon disposal (percent)		16.25%
Gain (loss) on sale of long-lived assets					$ (8,000)	$ 312,000
Divestiture cost						$ 8,000
NEPA Non Operated Asset Divestiture \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Subsequent Event
Business Acquisition [Line Items]
Percentage of natural gas asset interest sold (percent)	60%
Proceeds from divestiture of interest	$ 1,250,000
NEPA Non Operated Asset Divestiture \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Fair value \| Significant unobservable inputs (Level 3)
Business Acquisition [Line Items]
Fair value of consideration received, net of liabilities assumed		$ 842,000
Property plant and equipment		$ 413,000
Tug Hill and XcL Midstream
Business Acquisition [Line Items]
Equity interest issued or issuable, number of shares (in shares)				49,599,796
Cash payments to acquire business				$ 2,400,000
NEPA Gathering System Acquisition
Business Acquisition [Line Items]
Percentage of operates and owns interest (percent)								50%
Ownership interest acquired (percent)			33.75%
Consideration to be paid			$ 205,000

Equitrans Midstream Merger (Det

Equitrans Midstream Merger (Details) $ / shares in Units, $ in Thousands		3 Months Ended	9 Months Ended
	Jul. 22, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Business Combination, Separately Recognized Transactions [Line Items]
Equity issued as consideration for acquisition			$ 5,548,608	$ 2,152,631
Equitrans Midstream Merger
Business Combination, Separately Recognized Transactions [Line Items]
Number of shares issuable for each existing share converted (in shares)	0.3504
Equity interest issued or issuable, number of shares (in shares) \| shares	152,427,848
Equity issued as consideration for acquisition	$ 5,548,608
Share price (in dollars per share) \| $ / shares	$ 35.88
Purchase and redemption price	$ 685,337
Proxy, transaction and reorganization		$ 274,600	$ 298,700
Intangible asset, useful life	15 years
Goodwill attributed to synergies expected from the vertical integration of the business	$ 1,300,000
Goodwill attributable to additional tax liabilities arising from the difference between preliminary purchase price allocation and tax basis	900,000
Goodwill tax deductible amount	647,200
Equitrans Midstream Merger \| Employees Of Equitrans Midstream
Business Combination, Separately Recognized Transactions [Line Items]
Equity issued as consideration for acquisition	$ 79,500

Equitrans Midstream Merger - Pu

Equitrans Midstream Merger - Purchase Price Allocation (Details) - USD ($) $ in Thousands		9 Months Ended
	Jul. 22, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Consideration:
Equity		$ 5,548,608	$ 2,152,631
Cash (paid in lieu of fractional shares)		864,242	$ 2,288,201
Fair value of liabilities assumed:
Goodwill		$ 2,178,236		$ 0
Equitrans Midstream Merger
Consideration:
Equity	$ 5,548,608
Cash (paid in lieu of fractional shares)	29
Redemption of Equitrans Midstream preferred stock	685,337
Settlement of pre-existing relationships	(237,662)
Total consideration	5,996,312
Fair value of assets acquired:
Cash and cash equivalents	58,767
Accounts receivable, net	85,308
Income tax receivable	2,192
Prepaid expenses and other	22,048
Property, plant and equipment	9,387,823
Investment in the MVP Joint Venture	3,222,311
Net intangible assets	250,000
Other assets	240,248
Noncontrolling interest in consolidated subsidiaries	(144,894)
Amount attributable to assets acquired	13,123,803
Fair value of liabilities assumed:
Current portion of debt	699,837
Accounts payable	65,761
Accrued interest	47,996
Other current liabilities	76,563
Revolving credit facility borrowings	1,035,000
Senior notes	6,273,941
Deferred income taxes	961,894
Other liabilities and credits	144,735
Amount attributable to liabilities assumed	9,305,727
Goodwill	$ 2,178,236

Equitrans Midstream Merger - Po

Equitrans Midstream Merger - Post-Acquisition Operating Results (Details) - Equitrans Midstream Merger - USD ($) $ in Thousands	2 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Loss on derivatives	$ (5,673)
Pipeline, net marketing services and other	110,403
Total operating revenues	104,730
Net loss	(159,313)
Less: Net income attributable to noncontrolling interests	3,687	$ 17,696	$ 21,891
Net loss attributable to EQT Corporation	$ (163,000)

Equitrans Midstream Merger - Un

Equitrans Midstream Merger - Unaudited Pro Forma Information (Details) - Equitrans Midstream Merger - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Pro forma operating revenues:
Pro forma sales of natural gas, NGLs and oil		$ 3,293,174	$ 3,680,566
Pro forma gain on derivatives		201,228	1,221,557
Pro forma pipeline, net marketing services and other		454,136	456,082
Pro forma total operating revenues		3,948,538	5,358,205
Pro forma net income		19,543	1,677,891
Less: Pro forma net income attributable to noncontrolling interests	$ 3,687	17,696	21,891
Pro forma net income attributable to EQT Corporation		$ 1,847	$ 1,656,000
Pro forma net income attributable to EQT Corporation – Basic (in dollars per share)		$ 0	$ 4.49
Pro forma net income attributable to EQT Corporation – Diluted (in dollars per share)		$ 0	$ 4.14

Commitment and Contingencies -

Commitment and Contingencies - Schedule of Purchase Commitment (Details) - USD ($) $ in Billions	Sep. 30, 2024	Dec. 31, 2023
Demand Charge Payments \| Pipeline Demand Charges
Long-Term Purchase Commitment [Line Items]
Other commitment, to be paid, remainder of fiscal year	$ 0.2
Other commitment, to be paid, year one	0.8	$ 1.8
Other commitment, to be paid, year two	0.7	1.8
Other commitment, to be paid, year three	0.7	1.7
Other commitment, to be paid, year four	0.6	1.7
Other commitment, to be paid, after year four	4.2
Other commitment, to be paid, year five		1.4
Other commitment, to be paid, after year five		13.6
Total	7.2	22
Services and Materials Payment Commitment \| Frac Sand and Equipment
Long-Term Purchase Commitment [Line Items]
Other commitment, to be paid, remainder of fiscal year	60.7
Other commitment, to be paid, year one	194.6	228.8
Other commitment, to be paid, year two	148.4	164.5
Other commitment, to be paid, year three	88.2	138
Other commitment, to be paid, year four	37.9	111
Other commitment, to be paid, after year four	0
Other commitment, to be paid, year five		72.9
Other commitment, to be paid, after year five		107.9
Total	$ 529.8	$ 823.1